VF finds buyer for Supreme
19/07/2024
“Under VF, Supreme expanded its presence in the key markets of China and South Korea and has returned to delivering strong growth. However, given the brand’s distinct business model and VF’s integrated model, our strategic portfolio review concluded there are limited synergies between Supreme and VF, making a sale a natural next step,” said VF president and CEO Bracken Darrell. This transaction, he added, improves VF’s balance sheet and “positions the company for long-term growth and more normalised debt levels.”
Supreme sells its products online and in 17 stores in the US, Asia and Europe. The brand was founded in 1994 by James Jebbia and was long a focal point for the NYC skate scene out of its first store on Lafayette Street in downtown Manhattan.
Headquartered in Paris, EssilorLuxottica is a €25.4 billion company with a wide portfolio of brands in lenses, frames and sunglasses. These include Ray-Ban and Oakley along with countless licensing agreements with fashion and luxury labels.
Subject to regulatory approval, the transaction is expected to be finalised by the end of the year.
Image of the Supreme store in Paris
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