In a surprising turn of events, eyewear behemoth EssilorLuxottica is set to acquire streetwear icon Supreme for 1.5 billion dollars, as VF Corp. retreats from its once-prized asset. This deal, coming at a substantial markdown from Supreme's previous valuation, signals a pivotal moment for the brand and the broader streetwear market. VF Corp. had...
Jul 17, 2024
Eyewear giant EssilorLuxottica has acquired New York-born streetwear brand Supreme in a deal worth 1.5 billion dollars, the transaction of which will be completed by the end of 2024, a press release revealed. In May, it was already speculated that VF Corporation, the parent company of Supreme and the owner of Vans, The North Face and Timberland,...
In less than four years since its acquisition, VF Corporation is reportedly mulling a sale of its streetwear brand Supreme. Back in December 2020, the group bought the New York skater brand, valuing it at 2.1 million dollars, making it one of the largest fashion transactions of the year. According to WWD, VF Corp is considering divesting Supreme...
May 15, 2024
There is no denying that 2023 has been a turbulent year for the US fashion market, as declining consumer confidence continued to take hold of the region and impact wider sales. No matter, while some large-scale conglomerates attempted to build up their defences through turnaround strategies, there were some positives for the industry, namely in...
Dec 22, 2023
US streetwear giant Supreme and British streetwear brand Corteiz, known for its guerrilla marketing and limited edition collection drops, have joined forces. Cortez fuelled the hype surrounding the collaboration with a short teaser video on the social media platform Instagram. The time-lapse video, which was published by the Corteiz account...
Tremaine Emory, the creative director of streetwear label Supreme, has officially departed from the top position after accusing the company of “systemic racism”. His exit from the American clothing label comes just over a year on from when he was initially appointed after he stepped into the role during February 2022. Emory confirmed the move in...
Aug 31, 2023
Tremaine Emory, Supreme's creative director, is reportedly poised to depart the label following a brief tenure of just two seasons. Emory, who assumed the role in 2022 to oversee the brand's streetwear collections, will have held the position for a mere 18 months. Though VF Corp, the brand's owner, has not officially confirmed the departure,...
Aug 30, 2023
The Council of Fashion Designers of America (CFDA) has unveiled 10 new designer additions to its membership roster for the current year. Among the new members are accessory designer Brandon Blackwood, founder of Kidsuper Colm Dillane, founder of Denim Tears and creative director of Supreme Tremaine Emory, creative director of Maison Schiaparelli...
Apr 4, 2023
US fashion giant VF Corporation has announced the closing of a 500 million euro green bond offering to support its sustainability initiatives. The company, whose portfolio includes Supreme, The North Face, Timberland, and Vans, said an amount equivalent to the net proceeds from the offering has been dedicated to advance its Sustainability &...
Mar 7, 2023
With pre-loved and second-hand clothing growing in popularity, SVP Worldwide, the world’s largest consumer sewing machine company, is looking to tap into a whole new generation of home sewers with a collaboration between its Singer brand and streetwear label Supreme. SVP Worldwide describes the Singer x Supreme collaboration as the “coolest...
Dec 20, 2022
US fashion company VF Corporation has lowered its forecast for the current business year and presented its strategy for the next five. For the 2023 financial year, VF Corp, which owns brands such as The North Face and Vans, now expects sales growth to between 5 percent to 6 percent. Its previous guidance, given when it released its first-quarter...
Sep 28, 2022
First quarter revenue increased 3 percent or 7 percent in constant dollars to 2.3 billion dollars at VF Corporation, driven by increases in the EMEA and Americas regions partially offset by a decline in the APAC region primarily due to COVID lockdowns in China. Commenting on the results, Steve Rendle, chairman, President and CEO of VF said: “We...
Aug 4, 2022