After the last 4 years under VF Corporation’s ownership, the Supreme brand is set to be acquired by EssilorLuxottica. The transaction is valued at 1.5 billion dollars, 600 million dollars less than VF Corporation paid for the brand in 2020.
Francesco Milleri, Chief Executive Officer, and Paul du Saillant, Deputy Chief Executive Officer at EssilorLuxottica, made the following statements regarding the acquisition of the Supreme brand:
We see an incredible opportunity in bringing an iconic brand like Supreme
into our Company. It perfectly aligns with our innovation and development journey, offering us a direct connection to new audiences, languages and creativity. With its unique brand identity, fully-direct
commercial approach and customer experience – a model we will work to preserve – Supreme® will have its own space within our house brand portfolio and complement our licensed portfolio as well. They will be well-positioned to leverage our Group’s expertise, capabilities, and operating platform.
According to their statements, the company intends to preserve its brand identity while being integrated into EssilorLuxottica’s current brand portfolio. This gives the group access to a new audience through its unique brand identity.
James Jebbia, the founder of Supreme, commented on the deal:
In EssilorLuxottica, we have a unique partner that
understands that we are at our best when we stay true to the brand and continue to operate and grow as we have for the past 30 years. This move lets us focus on the brand, our products, and our customers, while setting us up for long-term success.
EssilorLuxottica is a leader in the optical and design industry. The company’s iconic brands include Ray-Ban and Oakley, two of the biggest eyewear brands. They also hold the eyewear license for many luxury brands such as Prada, Versace, Miu Miu, Tiffany & Co, and others.
EssilorLuxottica has over 200,000 employees in approximately 150 countries. They operate more than 18,000 stores worldwide, generating revenue of 25.4 billion dollars in 2023. The company Luxottica was founded in 1961 in Italy, while the EssilorLuxottica group was founded in 2018 and is headquartered in Paris, France.
Supreme opened its first store in New York City in 1994. It was founded by James Jebbia. Since then, the brand has become one of the essential names in any skater’s wardrobe. In the streetwear world, Supreme is one of the most important brands. Currently, they have 17 physical stores and an e-commerce shop available in all regions. The brand was acquired in 2020 by VF Corporation. At that time, they paid 2.1 billion dollars for the brand.
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Vlad Ciutacu is a writer based in The Hague, Netherlands. He has been working in the footwear industry for more than a decade, with hundreds of pairs in his collection. His favourite models are the Air Jordan 1 and the Nike SB Dunk Low Pro. Find him on Facebook, Twitter, and Instagram.
