Netflix Inc.’s hit series “Squid Game” is giving a boost to footwear and apparel maker VF Corp. as fans clamor for the white Vans sneakers featured in the dystopian drama.
VF has seen a small spike in Vans demand, executives said Friday on a conference call to discuss quarterly earnings. The company, which also owns the Supreme streetwear brand and Timberland, plans to capitalize on its connection to a pop culture phenomenon by highlighting its classic styles.
VF’s shares slid 3.1% at 11:52 a.m. after the company’s third-quarter sales and profit missed Wall Street’s expectations.
“Squid Game” is now Netflix’s most-streamed show ever, with more than 140 million households watching it in its first four weeks of release. The content-streaming giant is now projecting the show to create almost $900 million in value for the company, Bloomberg reported.
—With assistance from Augusta Saraiva.
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