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Supreme sale VF

VF Corporation Sell Supreme To EssilorLuxottica For $1.5 Billion

Shares in VF Stock Were up 14%

COMPANY FOCUS
Company:
VF Corporation
FOUNDED:
Pennsylvania, USA 1899
VIEWS:
Stock Data:
V.F. CorporationVFC
0.20%
$25.59

After originally purchasing Supreme back in 2020 for $2.1 Billion, VF Corporation have sold the legendary streetwear label Supreme to EssilorLuxottica For $1.5 Billion.

Shares in V.F. Corporation (VFC) were up 14% yesterday with a continued upwards trend after the official news the US based apparel giant had sold off Supreme to Ray-Ban owner EssilorLuxottica for $1.5 Billion. Supreme, known for their hyped streetwear collaborations & sneaker drops played a pivotal role in “hype” culture & resale in the pre-pandemic era of the twenty-tens. Although Supreme’s popularity still remains with its die hard followers, it’s clout on the streetwear & sneaker scene has slowed down in recent years with resale products that would have traditionally sold for thousands still sitting on the various global resale platforms. Snapping up the streetwear stalwart for VF Corporation seemed like the right move back in 2020, sitting alongside other iconic streetwear brands such as Vans, Timberland & The North Face, which Supreme had already collaborated with on numerous occasions. However, 4 years later and the move didn’t meet VF’s original expectations with a falling demand for Supreme’s red box logo and shares prices in VF dropping 13%.

When talking about the sale of Supreme VF’s current CEO Bracken Darrell said “the company’s strategic portfolio review determined that selling Supreme was logical” which probably means they needed to cut their losses with too much inventory and a decreased demand in the New York skateboarding label. After several rumours circulating from inside VF that they were looking for a buyer, earlier this week it was confirmed that the Ray-Ban and Oakley parent company, EssilorLuxottica, would be purchasing Supreme for $1.5 billion, just over half a billion less than VF originally paid for the brand. The purchase is expected to be officially signed off by the end of 2024.

So what’s next for Supreme? One thing is for sure they’ll always have their loyal following, Nike sneaker collaborations & their unique style inspired direct from the streets of NYC. Does ownership of a brand really change a consumers perception? Perhaps there was some negativity from the die hard Stone Island fans after they were purchased by Moncler but the thing is for such an iconic brand as Supreme if it looks good, and it’s currently popping, people will still buy it no matter whether its owned by VF or EssilorLuxottica. To the next chapter of Supreme whatever that maybe?

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Founder & CEO