Supreme Sells out for $2.1B
Supreme, the cultish streetwear brand synonymous with downtown New York City, sold out for an enormous windfall.
VF acquired the decades-old brand for a massive $2.1 billion, including the stakes Carlyle Group and Goode Partners had acquired back in 2017, according to the Wall Street Journal. The Supreme brand joins a portfolio that also includes Vans and Timberland.
VF executives said Supreme’s current business model will remain unchanged and doesn’t see much cost savings in the near term through the combination.
Per the article, the majority of Supreme’s $500 million revenue comes from online orders, leaving “more room for additional bricks-and-mortar shops.”
Supreme was founded in April 1994 by James Jebbia. The distinctive red box logo with white Futura Heavy Oblique font is borrowed heavily from Barbara Kruger’s propaganda art. It was headquartered on Lafayette Street until October 2019, when it relocated to the iconic Germania Bank Building on the Bowery.