In a significant move in the fashion industry, Supreme, a brand synonymous with streetwear culture, has been acquired by EssilorLuxottica from VF Corp. for $1.5 billion in cash. This acquisition was announced recently, marking a new chapter for the iconic brand as it celebrates its 30th anniversary.
VF Corp., under the leadership of CEO Bracken Darrell, expressed that the sale was a strategic decision due to limited synergies between Supreme and VF’s business models. Darrell highlighted the ‘strong growth’ Supreme has experienced under VF’s ownership but noted that the brand’s unique business model made the sale a logical progression.
EssilorLuxottica, known for its prominence in the eyewear industry, views the acquisition of Supreme as a remarkable opportunity to expand its reach into new markets and demographics. According to CEO Francesco Milleri and deputy CEO Paul du Saillan, Supreme aligns perfectly with EssilorLuxottica’s goals for innovation and development, promising a fresh influx of creativity and connection to diverse audiences.
The acquisition follows VF Corp.’s initial purchase of Supreme in 2020 for $2.1 billion, highlighting the brand’s substantial growth and impact in the fashion sector. Supreme’s journey has been marked by numerous high-profile collaborations and a solid position as a leader in street fashion, making it a valuable addition to EssilorLuxottica’s portfolio of luxury brands.
