Netflix’s hit series "Squid Game" is giving a boost to footwear and apparel maker VF Corporation as fans clamour 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 capitalise on its connection to a pop culture phenomenon by highlighting its classic styles.
But VF’s shares fell more than 3% in trading on Friday 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.