Supreme acquired by eyewear giant EssilorLuxottica

Eyewear giant EssilorLuxottica has acquired New York-born streetwear brand Supreme in a deal worth 1.5 billion dollars, the transaction of which will be completed by the end of 2024, a press release revealed.

In May, it was already speculated that VF Corporation, the parent company of Supreme and the owner of Vans, The North Face and Timberland, was “looking for potential buyers” for the streetwear brand.

Supreme was acquired by VF Corp in 2020 for 2.1 billion euros, after which the brand began zoning in on international store openings, including its latest locations in Seoul and Shanghai.

Supreme sold to EssilorLuxottica

Supreme founder James Jebbia shared about the acquisition: “In EssilorLuxottica, we have a unique partner who understands that we are at our best when we stay true to the brand and continue to operate and grow as we have done for the past 30 years. This move allows us to focus on the brand, our products and our customers, as we prepare for long-term success.”

Commenting on the acquisition of Supreme, CEO Francesco Milleri and deputy CEO Paul du Saillant at EssilorLuxottica said: “We see an incredible opportunity to bring an iconic brand like Supreme into our business. It fits perfectly with our innovation and development journey and offers us a direct connection to new audiences, languages ​​and creativity.

“With its unique brand identity, fully direct commercial approach and customer experience – a model we will strive to maintain – Supreme will have its own place within our private label portfolio and will also complement our licensed portfolio.”

In addition to Supreme, EssilorLuxottica currently owns the brands Pearle, Ray-Ban and Oakley.