VF is purchasing the fashion brand Supreme for $2.1 billion, the US apparel firm reported Monday.
The businesses expect the contract to be concluded by the end of 2020. In the 2022 fiscal year, VF expects Supreme to contribute at least $500 million of revenue, it said.
The deal also ensures that Supreme’s streetwear brand will be able to access the global supply chain, international channels, digital features, and customer awareness of VF, it said.
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According to the recent reports, over 10 million individuals have now been diagnosed with Covid-19 in the US. The alarming mark was reached as the number of cases hit 50 million worldwide.
More than 239,000 deaths have now been confirmed in the US. Over the last 10 days, more than 1 million confirmed cases of the virus have been reported in the US alone.
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Zoom Video Communications have been doing pretty good for the last couple of months with the COVID-19 pandemic ramping up stock price and generating millions of new users worldwide.
However, that could be coming to an end very soon as the company’s share price has fallen following the announcement of Pfizer and BioNTech’s 90% effective vaccine.
The company’s stock dropped 15 percent in pre-market trading and looks to be dropping more and the situation develops.
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The UK has locked in 30 million doses of Pfizer and BioNTech’s COVID-19 vaccine after breaking reports of its 90% effectiveness rate.
The results came from the third stage of human trials involving more than 43,000 participants who received two doses, a placebo or an immunisation jab, which resulted in a 90% success rate in protection from COVID-19.
Pfizer and BioNTech aim to send the vaccine to regulators for approval by the end of November, with the UK’s order of 30 million being enough for 15 million people.
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