Fashionabler Posted July 18 Share Posted July 18  Supreme, the renowned streetwear brand, is set to be acquired by EssilorLuxottica, the maker of the iconic Ray-Ban sunglasses. The deal, valued at $1.5 billion, is set to close by the end of 2024.  The acquisition marks a significant milestone for EssilorLuxottica, a French-Italian eyewear conglomerate, as it marks their first venture into the apparel industry. The move is seen as a strategic attempt to tap into the lucrative streetwear market and connect with a younger, more fashion-forward audience.  Supreme, a New York-based brand, has gained a cult-like following with its unique blend of pop culture and skateboarders' chic. The brand’s signature style and limited-edition releases have made it a favorite among streetwear enthusiasts.  The sale comes just a few years after Supreme was bought by VF Corporation for $2.1 billion. VF Corporation, the owner of popular brands like The North Face and Vans, cited “limited synergies” between Supreme and its portfolio, making the sale a "natural next step".  EssilorLuxottica’s acquisition of Supreme not only signifies a major shift in the company’s focus but also highlights the growing influence of streetwear in the fashion industry. The eyewear giant plans to maintain Supreme’s direct-to-consumer business model, ensuring that the brand’s unique identity and customer experience remain intact.  How will this acquisition shape the future of both Supreme and the streetwear industry? Will the marriage of high-end eyewear and street fashion birth a new era of style? Share your thoughts below.   Read more: https://www.essilorluxottica.com/en/newsroom/press-releases/essilorluxottica-to-acquire-supreme-from-vf-corporation/ https://www.complex.com/style/a/complex/supreme-new-owner-esillorluxottica-what-to-know https://www.businessoffashion.com/articles/retail/supreme-sale-vf-corp-essilorluxottica/ https://wwd.com/business-news/mergers-acquisitions/essilorluxottica-acquire-supreme-1236494261/ https://www.modernretail.co/operations/what-essilorluxottica-gets-out-of-its-1-5b-acquisition-of-supreme/   Images: Alina Boldina, Robert309 | Dreamstime.com Quote Link to comment Share on other sites More sharing options...
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