On September 15, VF Corporation announced that it will sell the iconic American workwear brand Dickies® to global brand management company Bluestar Alliance LLC. The deal is valued at $600 million in cash and is expected to close by the end of 2025.
Founded in 1922, Dickies has grown for over a century with workwear at its core. In recent years, it has expanded its presence beyond utility wear, becoming an influential brand in both street culture and fashion scenes, now distributed across 55 countries worldwide.
VF Corporation Seeks to Reduce Debt
VF Corporation, which owns powerful brands including The North Face®, Vans®, and Timberland®, has been facing slowing performance and rising debt in recent years.
The sale of Dickies is positioned as part of VF’s portfolio restructuring to address these challenges. While selling a brand acquired in 2017 for $820 million at a reduced price of $600 million may appear as a step back, the decision underscores the company’s priority of reducing debt and accelerating efforts to strengthen its balance sheet.
VF’s President and CEO, Bracken Darrell, commented in a statement: “I am confident that under Bluestar Alliance’s ownership, it will continue to improve and realize its significant growth potential. As I’ve said before, we continuously evaluate our portfolio and this transaction will enable us to bring our net debt level down and will be accretive to our growth on a pro-forma basis. I want to thank the entire Dickies® team for their strong commitment to transforming the brand.”
Bluestar Alliance CEO Joseph Gabbay also shared his outlook on the acquisition: “We are committed to supporting the Dickies® brand’s growth by leveraging our consumer insights and operational excellence to unlock its full value for all stakeholders.”
Bluestar Alliance currently manages a portfolio of more than 500 licensees and operates over 500 retail stores worldwide. With this acquisition, Dickies is set to enter a new phase of growth.
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