In 2020, VF Corporation acquired Supreme for US$2.1 billion. Today, the eyewear group EssilorLuxottica has bought Supreme from them for US$1.5 billion in cash. The sale will be finalized by the end of the year.

In a quote to WWD, Francesco Milleri, chairman and CEO of EssilorLuxottica said, “We see an incredible opportunity in bringing an iconic brand like Supreme into our company. It perfectly aligns with our innovation and development journey, offering us a direct connection to new audiences, languages and creativity.

“With its unique brand identity, fully-direct commercial approach and customer experience—a model we will work to preserve—Supreme will have its own space within our house brand portfolio and complement our licensed portfolio as well. They will be well-positioned to leverage our group’s expertise, capabilities, and operating platform.”

It is yet to be seen to what extent this would directly impact fans of Supreme. VF Corporation owns brands like Vans, The North Face, Timberland, and Dickies. Stay locked to this page as we bring you the latest updates.

Source: Sneaker Freaker; image via @supremenewyork

In other news, Nike sues the Shoe Surgeon for US$60 million. Alternatively, you can also head to the SNKRDUNK App via the banner below and browse the latest and greatest in sneakers, streetwear, and TCG.