Well, the earth keeps on spinning and companies keep on acquiring companies! And in 2024, a lot of stuff is going down, including sales and acquisitions. And now, VF Corp sold Supreme to a new company? You see, things are really changing in the industry, and we’re here for it! So, let’s see what led to this sale, and who the new acquisitor is, shall we? But if you wanna keep up with more industry news, make sure you check out our blog!
Before the Sale, A Little VF Corp x Supreme Recap
If you’re not familiar with the history of Supreme as one of the biggest streetwear brands today, check this out. But outside of style and culture, let’s talk about the action behind the scenes. We all know that the founder, James Jebbia, sold Supreme in 2020 to VF Corp. The company already owns huge brands like Vans, The North Face, and Timberland, among many others. But the addition of Supreme certainly was a good one, especially with the recurring collabs between the brands we mentioned.
However, things don’t always work out the way we want, and VF Corp certainly learned that lesson the hard way. You see, since the start of 2024, the company’s shares have been dropping dramatically. So, after a “review” to try to turn around the whole thing, VF’s CEO announced the conclusion! Apparently, Supreme’s distinct business model and VF’s integrated model have limited synergies. And naturally, the best course of action here would be to sell the brand.
So, VF Corp Sold Supreme to EssilorLuxottica!
As we already mentioned, VF Corp sold Supreme to EssilorLuxottica for $1.5 Billion, but what is this company exactly? So, EssilorLuxottica is a French-Italian multinational corporation. It is mainly invested in the eyewear industry and is the parent company of brands like Ray-Ban, Oakley, and many more. But now, it seems like the company is gonna dip its toes in the streetwear waters. Mind you, immediately after selling the brand, VF Corp’s shares shot up! So, maybe this will be a good decision for all the involved parties.
Whether this was the right step for EssilorLuxottica remains to be seen. However, Supreme fans can sleep easy knowing that nothing will change identity-wise. For example, James Jebbia will stay involved with the brand’s development. According to him, “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.”
So, if you were worried about future Supreme drops and what’s gonna happen. You can rest easy tonight with the knowledge that it’s still gonna serve! In other words, you’re still gonna need a solid Shopify bot for the next drop. But don’t look too far, because NSB is here, and it’s one click away. Godspeed!
