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Icebreaker sold to US retail giant VF Corporation

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Merino wool clothing retailer Icebreaker has been sold to US-based VF Corporation, which owns The North Face, Timberland and Vans.

Icebreaker founder Jeremy Moon, who started the company 22 years ago, said the acquisition was a once-in-a-lifetime opportunity. He did not reveal how much the company sold for.

“Our partnership with VF provides us with the largest platform in the world to tell our story, access new markets and reach new consumers at an accelerated pace,” Moon said.

“This is a once-in-a-lifetime opportunity for our global Icebreaker team and for our New Zealand wool suppliers to introduce a whole new universe of consumers to the benefits of sustainably farmed, ethically sourced, New Zealand merino wool.”

Chairman Rob Fyfe said Icebreaker was a “very small brand” in the global outdoor clothing industry.

“The opportunity to join VF’s stable of globally recognised brands and to be able to benefit from their expertise, consumer insights, distribution and operating scale presented Jeremy and Icebreaker’s board with the best opportunity to realise our ambition to become a $1 billion brand.”

Moon and Fyfe will continue in their current roles at Icebreaker.

Icebreaker apparel is sold in 47 countries worldwide and this year surpassed $220 million in global sales.

Source: NZ Herald

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