The Supreme clothing brand has been sold for $1.5 billion. It was already sold in 2020, but then the price was $2.1 billion. This time the brand was bought by the French eyewear manufacturer EssilorLuxottica.
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Supreme clothing brand sold for $1.5 billion
American company VF has sold its Supreme clothing brand for $1.5 billion to French eyewear maker EssilorLuxottica, the company said.
The deal is expected to close by the end of 2024. The total amount will be paid in cash.
In addition to Supreme, VF Corporation owns the Vans and Timberland brands. The company purchased the Supreme brand in 2020 for $2.1 billion.
EssilorLuxottica owns more than 150 brands, including Ray-Ban and Oakley. The company is one of the largest eyewear manufacturers in the world.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
