In November 2020, VF Corporation (VF) acquired streetwear brand Supreme for US$2.1 billion. Following the acquisition, VF faced significant operational challenges, leading to a substantial drop in stock value and to pressure from activist investors to streamline its brand portfolio. Supreme had struggled to integrate into VF’s larger corporate structure, failing to meet growth targets amid supply chain disruptions and shifts in retail and digital strategy, which had raised concerns about diluting the brand’s exclusivity.<br><br>Bracken Darrell, VF’s newly appointed chief executive officer, had to decide on the operational strategy for Supreme ahead of a critical investor meeting in May 2024. The decision centred on whether to divest Supreme or invest in realigning its operations to capitalize on its strong brand identity, especially in growth markets like Asia.