ESSILORLUXOTTICA PAYS $1.5 BILLION TO VF CORP FOR SUPREME BRAND

In a surprising move, Supreme has been acquired by EssilorLuxottica, the global leader in eyewear, for $1.5 billion. This news, announced on July 17, 2024, has left many puzzled about why a company known for sunglasses brands like Ray-Ban and Oakley would purchase a skateboard apparel brand famous for its limited releases and high-profile collaborations.

Previously owned by VF Corporation (the parent company of brands like The North Face, Vans, and Wrangler), Supreme is now set for a different direction under EssilorLuxottica. VF Corporation struggled to fully capture Supreme’s unique brand essence, but EssilorLuxottica appears to have a fresh strategy.

Supreme founder James Jebbia expressed optimism about the new partnership in a press release, saying, “EssilorLuxottica is a unique partner that understands we are at our best when we remain true to our brand and continue to grow as we have for the past 30 years.”

What does this mean for Supreme's future? Could we see collaborations like Supreme x Ray-Ban sunglasses? While it’s too early to know for sure, this acquisition could significantly impact both the fashion and eyewear industries.

Here are some potential outcomes to consider:

• Supreme Expands Reach: EssilorLuxottica’s global presence could help Supreme enter new markets and attract a broader audience.
• Elevated Collaborations: Supreme might partner with Luxottica’s luxury brands like Persol or Oliver Peoples for exclusive eyewear collections.
• Streetwear Takes Center Stage: This acquisition highlights the growing influence of streetwear in the fashion world.

The full effects of this partnership will unfold over time, but it’s clear that Supreme’s momentum isn’t slowing down. The deal is set to be finalized before 2025.