VF Corp. sells Dickies to Bluestar Alliance for $600 million
VF Corporation, the parent company of Vans, The North Face, and Timberland, announced Monday that it will sell its Dickies workwear brand to Bluestar Alliance for $600 million in cash. The transaction, expected to close by the end of 2025, marks the latest step in VF’s ongoing turnaround strategy.
VF acquired Dickies in 2017 for $820 million, but the century-old workwear brand has struggled in recent years with declining revenues and operational challenges. Founded in 1922 in Fort Worth, Texas, Dickies last reported full-year growth in fiscal 2022, when revenue jumped 19% to $837.7 million. Since then, sales have fallen sharply. For the fiscal year ended March 29, 2025, revenue slid 12% year-over-year to $542.1 million.
VF’s Portfolio Reshaping
The divestiture continues VF’s broader restructuring efforts as it works to reduce debt and refocus on its strongest-performing labels. Proceeds from the Dickies sale will go toward paying down VF’s liabilities, which stood at $8.8 billion as of June 2025. VF reported in July that it had already lowered net debt by $1.4 billion, or 20%, compared to the prior year.
“At VF, we continuously evaluate our portfolio,” said VF CEO Bracken Darrell. “This transaction will enable us to bring our net debt level down and will be accretive to our growth on a pro-forma basis. 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.”
The sale follows other recent divestitures by VF, including Supreme in 2024 and Eagle Creek in 2021, as the company sharpens its focus on The North Face and Timberland, which have both shown momentum, and continues turnaround efforts at Vans.
Dickies’ Transition and Challenges
Dickies has been undergoing major changes since VF moved its headquarters from Fort Worth to Costa Mesa, California, last year, co-locating with Vans. The relocation, which cut about 120 jobs, was designed to drive synergies between brands. In October 2024, Chris Goble was appointed Brand President as part of VF’s leadership reshuffle.
Darrell had previously expressed optimism about Goble’s work in stabilizing Dickies. But in August, he acknowledged the brand had strayed too far from its workwear roots, expanding lifestyle lines too quickly. Now, under Bluestar, Dickies is expected to shift toward a licensing model, raising questions about the future of its leadership team and employees.
Bluestar Alliance Expands Its Brand Portfolio
Bluestar Alliance, a New York–based brand management firm, operates more than 500 stores worldwide and manages a portfolio of over 500 licensees. Its stable includes labels such as Hurley, Off-White, Scotch & Soda, Brookstone, Bebe, Limited Too, and Tahari.
“Since 1922, Dickies has provided hard-wearing, long-lasting, and comfortable clothes, cementing its status as a storied brand in performance workwear,” said Bluestar CEO Joseph Gabbay. “We have followed the brand for many years and have a deep appreciation for its history and legacy. We are committed to supporting Dickies’ growth by leveraging our consumer insights and operational excellence to unlock its full value.”
Looking Ahead
The acquisition remains subject to regulatory approval and customary closing conditions. Both VF and Bluestar indicated that more details regarding transition plans and brand strategy will be shared later this year.
For VF, the sale underscores a disciplined effort to streamline operations and strengthen its balance sheet. For Dickies, it represents a new chapter under Bluestar, one that could determine whether the 103-year-old workwear icon can reclaim its growth trajectory in a competitive global market.
