EssilorLuxottica acquires Supreme 👏
The global eyewear giant has acquired the New York streetwear brand in a deal worth up to $1.5bn.
VF Corporation have owned Supreme since 2020 when they acquired the brand in a €2.1bn deal, after which the brand began focusing on international store openings.
The deal expands EssilorLuxottica's extensive portfolio of brands which already includes Pearle Opticiens, Ray-Ban and Oakley.
James Jebbia, Founder of Supreme, commented:
"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.”
Francesco Milleri and Paul du Saillant, CEO and Deputy CEO of EssilorLuxottica respectively, added:
"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.”
#News #Fashion #Eyewear #Streetwear #Acquisition #Growth #Strategy
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