Industry News
Apparel Giant VF to Divest Dickies Brand in US$600m Deal
As part of its ongoing recovery efforts, VF Corporation, the parent company of Vans, The North Face, and Timberland, announced that it will sell the Dickies workwear brand to Bluestar Alliance LLC for US$600 million in cash. Global brand management company Bluestar Alliance has been interested in the Dickies brand for several years.
The transaction is expected to reduce VF's debt levels and support its growth on a pro-forma basis.
Established in 1922, Dickies has a presence in 55 countries. Dickies is known for its workwear that combines functionality with style. It was acquired by VF in 2017 for US$820 million.
The transaction, expected to close by the end of 2025, is expected to reduce VF’s debt levels and support its growth on a pro-forma basis, according to VF president and CEO Bracken Darrell. He stated: “Dickies is an iconic American workwear brand with a bright future, and I am confident that under Bluestar Alliance’s ownership, it will continue to improve and realise its significant growth potential.”
Darrell stressed the company’s commitment to Dickies in spite of the brand’s difficulties during that July earnings call. At the time, Darrell declared, “We are still enthusiastic about and dedicated to expanding the Dickies brand.” He further added, “Since coming in October of last year, our new Brand President Chris Goble has done a fantastic job of redefining the brand. He is already putting the strategy he unveiled at Investor Day in March into action, and he has reconstructed the leadership team. We think that under Chris’s direction, the brand has a lot of room to expand.”
Commenting on the deal, Bluestar Alliance CEO Joseph Gabbay said: “Since 1922, Dickies has provided hard-wearing, long-lasting, and comfortable clothes, cementing its status as a storied brand in performance workwear. We have followed the brand for many years and have a deep appreciation for its history and legacy, which VF Corporation has successfully begun to rebuild over the past few years.
“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.”
Completion of the deal is subject to closing conditions and regulatory approvals. It is anticipated that the deal will close by the end of 2025. After recent difficulties with a number of important brands, VF Corp., which paid US$820 million to acquire Dickies in 2017, has been attempting to stabilise its operations. Over the past few years, Dickies, the renowned workwear brand that was established in Fort Worth, Texas, in 1922, has reported dwindling sales and operational difficulties. Its revenue rose by 19% to US$837.7 million in the year ending 2nd April 2022, the last time the brand reported full-year growth.
Since then, Dickies’ revenue has been falling by double digits. The most recent fiscal year, which ended on 29th March 2025, saw a 12% decline in revenue to US$542.1 million when compared to fiscal 2024. Dickies’ revenue decline in the first quarter of the current fiscal year had ‘moderated significantly’, according to VF executives during the company’s July results call.
Source: VF Corporation
Completion of the deal is subject to closing conditions and regulatory approvals. It is anticipated that the deal will close by the end of 2025. After recent difficulties with a number of important brands, VF Corp., which paid US$820 million to acquire Dickies in 2017, has been attempting to stabilise its operations. Over the past few years, Dickies, the renowned workwear brand that was established in Fort Worth, Texas, in 1922, has reported dwindling sales and operational difficulties. Its revenue rose by 19% to US$837.7 million in the year ending 2nd April 2022, the last time the brand reported full-year growth.
Since then, Dickies’ revenue has been falling by double digits. The most recent fiscal year, which ended on 29th March 2025, saw a 12% decline in revenue to US$542.1 million when compared to fiscal 2024. Dickies’ revenue decline in the first quarter of the current fiscal year had ‘moderated significantly’, according to VF executives during the company’s July results call.
Source: VF Corporation
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