VF Corp is shedding its intimate apparel brands like the many pounds its full-figured customers resolved to shed after the holiday. VF is selling the overstuffed unit for $350mm in cash to Berkshire Hathaway’s Fruit of the Loom, which will now become Entire Produce Section of the Loom. W. Buffet has been known to fancy a little junk in the trunk.
The sale allows VF Corp to focus on its core brands. VF Corp owns most of the denim featured in modern cowboy and B movies, in brands such as Wrangler, Lee, North Face, Nautica, Hero by Wrangler, Rustler, Riders, Timber Creek by Wrangler, Buttless by Wrangler and Mantasm by Lee.
VF’s intimate apparel unit consists of the brands Vanity Fair, Vassarette, Bestform, Curvation and five or more brands designed for Spanish prostitutes.
Curvation is perhaps the most awesome widely known VF Intimate apparel brand, serving the estimated 60 million “curvaceous” women in the US. Curvation’s goal is to:
Translate our design expertise into a wardrobe of intimate apparel that offers women beautiful, figure-enhancing options to celebrate their curves. We hope CURVATION® creates a new language to convey a very positive message of confidence, sensuality and femininity.
I also hope Curvation creates a new language to convey this evolving paradigm of feminine beauty. I no longer want to refer to functional camping gear; I want to refer to my time on Everest’s Base Camp as spent in Queen Latifah’s sarong. I didn’t cover my pool with a tarp over the winter, I used Mo’nique’s slip. I didn’t repair the leak in the Seawolf class submarine with a 15,000 psi industrial strength compression tube fitting, I used Roseanne’s girdle.
VF Corp (NYSE: VFC) is trading down almost 5% today in a rather steep curvaceous decline.
VF Sheds Intimate Apparel Business – [DealBook]