Announced at the beginning of November, the acquisition of the famous streetwear brand by the American sportswear giant has just been closed, for an amount of 2,100 million dollars, that is, 1,700 million euros. As a result of the transaction, Supreme has become a subsidiary brand owned by the VF Corporation Group, which also owns Vans, Timberland, The North Face, Napapijri, Eastpak and Kipling.
Supreme is expected to generate “at least” $500 million (€407 million) in revenue for the global group in fiscal 2022, the VF Corp Group said in a statement. In the medium term, its growth potential is estimated at one billion dollars (815 million euros), with almost two thirds achieved through online commerce. VF Corp for its part, given the decline in the second quarter of 2020, expects a global year with a drop of 14 percent, and a turnover of 9,000 million dollars (7,300 million euros).
Suprema, one of Gen Z's favorite brands, is transforming the VF portfolio. In exchange, he will benefit from the strength of the Group and will have a launch ten times higher than he would have if he did not belong to the Group. Despite this support, the brand founded in New York 25 years ago by James Jebbia will retain its autonomy and its management team.
In addition to its e-shop, the brand now has around ten of its own stores in the United States (New York, Los Angeles), London, Paris and Japan.
This article has been previously published by FashionUnited.fr and translated and edited by Paula V. Pinuaga.
Photo Credit: Supreme
