Supreme brand acquired for the colossal sum of 2.1 billion euros

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Negotiations have been under way between the VF Corporation (Timberland, Vans, The North Face) and James Jebbia’s famous streetwear brand for a few weeks… Supreme will be bought out for 2.1 million dollars.

Have the constantly sold out The North Face x Supreme collaborations given the VF Corporation a tempting taste of the future? It would seem so from this historic deal between the Denver-based VF Corporation and legendary Supreme brand, founded in New York in 1994. What started out as a little skate store tucked away between Lafayette Street and Prince Street has become a giant over the years, making rare streetwear gems accessible.

The brand even brought streetwear into the world of luxury. Just look at the collaboration between Supreme and Louis Vuitton which opened the doors to everyone else. Mainly due to online sales (60%), Supreme’s annual turnover is over 500 million dollars compared to around 200 million just four years ago. “We are not coming in to make changes. We’re here to support and enable a high performing business,” said VF Corp chief executive Steve Rendle, adding that James Jebbia and its senior leadership team will remain with the business. Should Supreme fans worry that the brand may lose its authenticity and exclusivity after the takeover? Wells Fargo says Supreme “needs to be careful about driving growth without losing the brand’s ‘secret sauce.’” The group’s objectives are no secret though: it expects revenues to grow 8-10% over the next three years.

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