;
Home / Knowledge / News / Apparel/Garments / VF Corporation to sell Reef brand to Rockport

VF Corporation to sell Reef brand to Rockport

05
Oct '18
Courtesy: Reef
Courtesy: Reef
VF Corporation, a global leader in branded lifestyle apparel, footwear and accessories, has entered into a definitive agreement to sell the reef brand to The Rockport Group (Rockport) of Newton, Massachusetts. A leading maker of casual and dress shoes, Rockport is a portfolio company of Charlesbank Capital Partners, a middle market private equity firm.

Reef will operate as an independent global brand under The Rockport Group, and will maintain its Carlsbad, California, headquarters. The transaction, which is expected to close in October 2018, is subject to customary closing conditions and regulatory approvals for a closing to occur. Terms of the agreement were not disclosed.

"Reshaping VF’s brand portfolio to deliver sustainable, long-term growth and superior returns to shareholders remains our top priority. Today’s announcement is another step toward delivering on the commitments outlined in our multi-year business strategy. We are pleased to have reached this agreement with Rockport. The Reef brand is an iconic, beach lifestyle brand, and Rockport is well-positioned to guide its next phase of growth," VF’s chairman, president and chief executive officer Steve Rendle said.

Charlesbank recently acquired Rockport, bringing in industry veteran Gregg Ribatt to head the established footwear company. "Reef is a powerful brand with deep authenticity and an incredibly loyal customer base. We are excited to work with the strong leadership team that has been guiding Reef through its brand evolution and resurgence. We believe in the team’s growth plans across consumer, product and geographic expansion," Ribatt said. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Cambodian PM unveils policy to combat reliance on EU, US

Textiles | On 17th Jan 2019

Cambodian PM unveils policy to combat reliance on EU, US

Cambodian Prime Minister Hun Sen recently launched a policy to...

S African Govt-funded programme revives cotton industry

Textiles | On 17th Jan 2019

S African Govt-funded programme revives cotton industry

A R200-million programme by South Africa has successfully revived the ...

US fashion group CFDA wants more diversity in model size

Fashion | On 17th Jan 2019

US fashion group CFDA wants more diversity in model size

A group representing hundreds of US designers has urged the fashion...

Interviews View All

Sunil Rathore, Lacoste India

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Kamlesh Vaghela, RK Textiles

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Spokesperson, Hugo Boss

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Carmen Silla,

Carmen Silla

Leading the transformation of the textiles industry with disruptive...

Iacopo Pardini,

Iacopo Pardini

Founded in 1953, Italian engineering company Arioli Spa started...

Shyam Gupta & Ravi Gupta,

Shyam Gupta & Ravi Gupta

Based out of South Delhi, Gargee Designer's provides bespoke formal and...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


January 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search