USA: VF Corp To Sell John Varvatos Menswear Brand
The North Carolina-based company, which acquired John Varvatos in August 2003 for $600 million, is in talks with the brand's namesake designer and president about a possible sale of the business to him.
"While we do see tremendous future potential for the John Varvatos business, due to Mr Varvatos' talent and vision, at the same time, we believe the best use of our Sportswear Coalition resources is to focus on the continued development of the Nautica and Earl Jean brands," VF's Sportswear Coalition chairman Eric Wiseman said.
Other brands operated by VF Corp include Lee, Wrangler, Riders, The North Face and Vanity Fair.
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