Supreme Brand Acquired by EssilorLuxottica for $1.5 Billion
Supreme, the iconic skate brand, is being acquired by EssilorLuxottica, the parent company of Ray-Ban and Oakley, for $1.5 billion in cash. This acquisition, announced by Supreme's current owner, VF Corporation, will see Supreme join EssilorLuxottica's portfolio, which already includes prominent brands like Oakley and Ray-Ban. Founded by James Jebbia in 1994, Supreme is known for its limited-edition releases and brand collaborations, attracting a dedicated following of skaters but also artists, creatives, athletes, and celebrities. EssilorLuxottica executives Francesco Milleri and Paul du Saillant expressed excitement about the acquisition, highlighting its alignment with their innovation and direct-to-consumer strategies. Supreme will continue its direct-to-consumer sales model, both online and through its 17 global stores. VF Corporation cited "limited synergies" with Supreme, making the sale a logical next step. Supreme founder James Jebbia believes the acquisition will help the brand focus on long-term success and customer satisfaction. VF Corporation acquired Supreme in 2020 for $2.1 billion. With this new acquisition, Supreme is expected to leverage EssilorLuxottica's resources to enhance its market presence and innovation in the fashion industry.
by Maurice Pendarvis •