Supreme has been sold (again). The street culture world was shaken by a major announcement: EssilorLuxottica, the Franco-Italian eyewear giant, has reached an agreement to acquire Supreme, currently owned by VF Corporation (also the parent company of Vans, Timberland, The North Face...) for 1.5 billion dollars. A transaction potentially finalized by year's end that is already raising many questions about the future of the streetwear giant and the new directions to come.
Founded in 1994 in the heart of Manhattan by the talented James Jebbia, Supreme has established itself as a pillar of skate and street culture. For thirty years now, the brand has been creating, inspiring, and shaping tomorrow's trends. So much so that James Jebbia's label currently operates seventeen stores across the United States, Europe, and Asia. EssilorLuxottica plans to maintain this model. A decision welcomed by James Jebbia, who sees this partnership as an opportunity to preserve the brand's authenticity and DNA.
For EssilorLuxottica, the acquisition of Supreme represents a strategic entry into the streetwear world, a sector where the group had not yet established a significant presence. "This acquisition gives us direct access to new audiences, modes of expression, and creative approaches. With its unique signature, direct-to-consumer approach, and distinctive customer experience, Supreme will fit right in," explained Francisco Milleri, CEO of EssilorLuxottica. This move is part of a broader strategy of diversification and portfolio expansion, which already includes iconic brands like Ray-Ban, Oakley, and Persol, along with some twenty licensed brands.
Is This Good News for the Brand?
The streetwear behemoth has gone through numerous upheavals since its acquisition by VF Corporation in 2020. The most painful was undoubtedly the departure of Tremaine Emory, former creative director of Supreme. After only two seasons, the designer left his position after accusing the company of "systemic racism." Meanwhile, the brand had to defend itself against emerging opinions claiming that Supreme had lost its freshness and appeal after reaching its peak in the 2010s.
The sale of Supreme to EssilorLuxottica is part of a debt management strategy for VF, which highlighted the limited synergies between Supreme and its other brands. But that's not all. The new group could envision a trajectory similar to Oakley's, which successfully diversified its products beyond eyewear to include clothing and accessories. Supreme's future under EssilorLuxottica thus appears complex but promising. If the sale goes through, the major challenge will be preserving the brand's rebellious spirit, its authenticity, but also its collaborators like the Swoosh, Stone Island, and Ducati, which had generated strong positive reactions within the streetwear scene.
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