VF Corporation (NYSE:VFC), a global leader in branded lifestyle apparel, footwear, and accessories, and Bluestar Alliance LLC, a leading global brand management firm, today announced they have entered into a definitive agreement for Bluestar Alliance to acquire the Dickies® brand for $600 million in cash.

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Dickies® is an iconic American heritage brand that sits at the intersection of workwear and streetwear, with distribution in 55 countries. For over a century, it has been a cultural staple, known for its durability, authenticity, and global influence. Balancing utility and style, Dickies® continues to resonate across generations, geographies, and subcultures.

"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," said Joseph Gabbay, CEO, Bluestar Alliance. "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."

VF's President and Chief Executive Officer, Bracken Darrell, said, "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 realize its significant growth potential." Darrell continued, "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."

The transaction is expected to close by the end of CY2025, subject to customary closing conditions and regulatory approvals.

UBS is serving as financial advisor to VF, and Davis Polk & Wardwell LLP is serving as its legal advisor.

About VF

VF Corporation is a portfolio of leading outdoor, active and workwear brands, including The North Face®, Vans®, Timberland® and Dickies®. VF is committed to providing consumers with innovative products that are rooted in performance and elevated design, while delivering sustainable and long-term value for its employees, communities, and shareholders. For more information, please visit vfc.com.

About Bluestar Alliance, LLC

Founded by Joseph Gabbay and Ralph Gindi in 2006, Bluestar Alliance is a global brand management company that owns, manages, and markets a portfolio of premium fashion, lifestyle, and consumer brands. The portfolio spans a range of contemporary and luxury brands, with over $10 billion in global retail sales. Bluestar Alliance's network of domestic and international partners offers the opportunity to take niche and established brands and grow them into worldwide lifestyle brands. The company manages a portfolio of over 500 licensees and a growing branded retail platform of over 500 stores throughout North America, Europe, Australia, South America, Asia, the United Arab Emirates, the Middle East, and India.

Forward-Looking Statements

Certain statements made by VF included in this release are "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on VF's expectations and beliefs concerning future events impacting VF and therefore involve several risks and uncertainties. Words such as "will," "anticipate," "believe," "estimate," "expect," "should," and "may" and other words and terms of similar meaning or use of future dates may be used to identify forward-looking statements, however, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding the expected benefits, financial impact and timing of the sale of the Dickies® brand, including the use of proceeds therefrom, and assumptions related thereto, are forward-looking statements. VF cautions that forward-looking statements are not guarantees, and actual results could differ materially from those expressed or implied in the forward-looking statements. VF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Potential risks and uncertainties that could cause the actual results of operations or financial condition of VF to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: whether and when the required regulatory approvals for the proposed sale of the Dickies® brand will be obtained, whether and when the closing conditions will be satisfied and whether and when the proposed sale of the Dickies® brand will close, if at all; VF's ability to execute, and realize benefits, successfully, or at all, from the proposed sale of the Dickies® brand; the level of consumer demand for apparel, footwear and accessories; disruption to VF's distribution system; changes in global economic conditions and the financial strength of VF's consumers and customers, including as a result of current inflationary pressures; fluctuations in the price, availability and quality of raw materials and finished products, including as a result of tariffs; disruption and volatility in the global capital and credit markets; VF's response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior; VF's ability to maintain the image, health and equity of its brands, including through investment in brand building and product innovation; intense competition from online retailers and other direct-to-consumer business risks; increasing pressure on margins; retail industry changes and challenges; VF's ability to execute its Reinvent transformation program, "The VF Way" and other business priorities, including measures to streamline and right-size its cost base and strengthen the balance sheet while reducing leverage, including any sale of the Dickies® brand; VF's ability to successfully establish a global commercial organization, and identify and capture efficiencies in its business model; any inability of VF or third parties on which it relies, to maintain the strength and security of information technology systems; the fact that VF's facilities and systems, and those of third parties on which it relies, are frequent targets of cyberattacks of varying levels of severity, and may in the future be vulnerable to such attacks, and any inability or failure by VF or such third parties to anticipate or detect data or information security breaches or other cyberattacks, could result in data or financial loss, reputational harm, business disruption, damage to VF's relationships with customers, consumers, employees and third parties on which it relies, litigation, regulatory investigations, enforcement actions or other negative impacts; any inability by VF or third parties on which it relies to properly collect, use, manage and secure business, consumer and employee data and comply with privacy and security regulations; VF's ability to adopt new technologies, including artificial intelligence, in a competitive and responsible manner; foreign currency fluctuations; stability of VF's vendors' manufacturing facilities and VF's ability to establish and maintain effective supply chain capabilities; continued use by VF's suppliers of ethical business practices; VF's ability to accurately forecast demand for products; actions of activist and other shareholders; VF's ability to recruit, develop or retain key executive or employee talent or successfully transition executives; continuity of members of VF's management; changes in the availability and cost of labor; VF's ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; maintenance by VF's licensees and distributors of the value of VF's brands; VF's ability to execute acquisitions and dispositions, integrate acquisitions and manage its brand portfolio, including any sale of the Dickies® brand; business resiliency in response to natural or man-made economic, public health, cyber, political or environmental disruptions, including any potential effects from changes in tariffs and international trade policy; changes in tax laws and additional tax liabilities; legal, regulatory, political, economic, and geopolitical risks, including those related to the current conflicts in Europe, the Middle East and Asia and tensions between the U.S. and China; changes to laws and regulations; adverse or unexpected weather conditions, including any potential effects from climate change; VF's indebtedness and its ability to obtain financing on favorable terms, if needed, could prevent VF from fulfilling its financial obligations; VF's ability to pay and declare dividends or repurchase its stock in the future; climate change and increased focus on environmental, social and governance issues; VF's ability to execute on its sustainability strategy and achieve its sustainability-related goals and targets; risks arising from the widespread outbreak of an illness or any other communicable disease, or any other public health crisis; and tax risks associated with the spin-off of the Jeanswear business completed in 2019. More information on potential factors that could affect VF's financial results is included from time to time in VF's public reports filed with the SEC, including VF's Annual Report on Form 10-K, and Quarterly Reports on Form 10-Q, and Forms 8-K filed or furnished with the SEC.

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VF

Media

Colin Wheeler

Vice President, Corporate Affairs, Public Relations and Communications

corporate_communications@vfc.com

Investor Relations

Allegra Perry

Vice President, Investor Relations

ir@vfc.com

Bluestar Alliance, LLC

Sarah Rosen

Bluestar Alliance

SRosen@Bluestarall.com

VF Corporation to Sell Dickies® to Bluestar Alliance