Icebreaker announced that it will be acquired by U.S.-based VF Corporatiom, a company with a market capitalization of about $28 billion based in Greensboro, N.C. Icebreaker joins a stable of apparel brand owned by VF, including The North Face, Timberland, SmartWool and Vans.
Established in New Zealand 22 years ago by founder Jeremy Moon, Icebreaker today is sold in 47 countries around the world, with its headquarters spread across four continents and more than 80 percent of sales occurring in the Northern Hemisphere. Icebreaker purchases 25 percent of the Merino wool New Zealand grows and works with manufacturers across Asia, Europe and the U.S. to produce more than 4 million garments per year.
Founder Jeremy Moon says: “I founded Icebreaker to offer a natural choice to adventurers, and to build a global brand from New Zealand. 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. 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.”
“Icebreaker is still a very small brand in the global outdoor industry. The opportunity to join VF’s stable of globally recognized 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 realize our ambition to become a $1 billion brand,” says Rob Fyfe., Chairman of Icebreaker.
“Bringing the Icebreaker brand into the VF portfolio is a special opportunity,” said Steve Rendle Chairman, President and Chief Executive Officer of VF. “Its natural fiber focus is an ideal complement to our SmartWool brand, which also features Merino in its clothing and accessories. Together, the SmartWool and Icebreaker brands create an advantaged position for VF as a leader in the growing and underpenetrated natural fiber category.”
Both Moon and Fyfe have committed to ongoing roles with Icebreaker and VF Corporation.
