VF Corporation is looking to unload its Licensed Sports Group (LSG) business.
The division of VF’s Imaginewear coalition includes the Majestic brand and supplies apparel and fan gear through licensing agreements with U.S. and international professional sports leagues, colleges and universities. Revenues for the coalition reached $1.1 billion in 2015, with LSG representing about half of that amount.
In a release, VF Chairman and CEO Eric Wiseman stated, “As active portfolio managers, we constantly assess the composition of our company to ensure VF’s portfolio is aligned with our strategic objectives and positioned to maximize growth and return to our shareholders. In this respect, we are exploring options for our LSG business to position the organization to continue its success and achieve its future potential.”