John Varvatos -- the edgy men's fashion designer who has long cultivated a rock 'n' roll image -- is looking to break free of his corporate owner.
The New York-based outfitter of rock stars such as Iggy Pop, Jimmy Page and Alice Cooper is searching for a buyer to bring his company out from under the umbrella of VF Corp., the multibillion-dollar conglomerate that owns mainstream labels like Lee and Wrangler jeans, Nautica, Vans and The North Face.
"On one hand, you've got John, who is a classic New York-artist type who needs his freedom," the source said. "On the other side, you've got a bunch of old-school textile guys from North Carolina who are always chanting about how the team is more important than the individual."
This year during New York Fashion Week, Varvatos' Bowery Street store -- once home to the legendary rock temple CBGB's -- put the rock mainstay back in the business with a concert headlined by Alice Cooper.
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