EssilorLuxottica, the Italian eyewear company, announced today that it has agreed to purchase the streetwear brand Supreme for $1.5 billion. This deal, set to be finalized by year-end, marks a significant decrease from the $2.1 billion paid by VF Corp. for Supreme in 2020.

Supreme’s mainstream success was solidified by VF Corp.'s acquisition, but it also raised doubts about the brand’s ability to expand while maintaining its edgy, counterculture appeal. In recent times, Supreme has faced challenges from newer, trendier streetwear brands and a shift in consumer preferences towards more subdued, sophisticated styles over the logo-heavy apparel that defined the 2010s streetwear scene. Enthusiasts have also grown weary of the endless weekly product drops and collaborations, which once caused long lines outside Supreme stores but now often see items remain available for weeks.

The brand's financial performance reflected these challenges, with revenues dropping to $523.1 million in the year ending March 2023 from $561.5 million the previous year, and profits also declining, as reported by VF Corp., which did not disclose specific figures for Supreme in its fiscal year ending March 2024.

In February, VF Corp. began a strategic review of its portfolio, clearly identifying Supreme as a likely candidate for sale. VF CEO Bracken Darrell noted that the review found limited synergies between Supreme’s distinct business model and VF’s integrated approach, making the decision to sell a natural progression.

Who Are EssilorLuxottica?

EssilorLuxottica is a global leader in the design, manufacture, and distribution of ophthalmic lenses, optical equipment, and eyewear. Formed from the 2018 merger of Essilor, a French ophthalmic optics company, and Luxottica, an Italian eyewear manufacturer, the company combines extensive expertise in both lens technology and fashionable eyewear design. EssilorLuxottica manufactures eyewear for a range of well-known brands, including Ray-Ban, Oakley, Persol, and Oliver Peoples, as well as producing licensed eyewear for luxury fashion houses such as Chanel, Prada, Miu Miu, Dolce & Gabbana, and Versace. The company is renowned for its innovation in vision care and its expansive global retail network, which includes chains like LensCrafters and Sunglass Hut.

Supreme: Eyewear Evolution

Supreme, the iconic streetwear juggernaut famed for its unmistakable red and white box logo, stands as a beacon of exclusive limited edition drops and prestigious collaborations with top-tier brands. Emerging from Downtown Manhattan in 1994, Supreme has entrenched itself as a cornerstone of the fashion and streetwear scene, continuously redefining norms with its unparalleled blend of hype, style, quality, and exclusivity.

Throughout its evolution, Supreme has expanded its product line to include an eclectic array of accessories alongside its coveted box logo t-shirts and hoodies, and inventive takes on classics like the Nike Air Force. From boxing gloves to air horns and lighters, Supreme's accessory offerings defy convention, transforming unique designs into sought-after collector's items. Among their more practical additions, Supreme's eyewear line has been a standout feature since the early 2000s.

   

 

In a notable collaboration in early 2007, Supreme teamed up with eyewear giant Oakley to unveil the Oakley Frogskin x Supreme sunglasses, further cementing their reputation for innovation and style in the realm of streetwear accessories.

Travis Scott wears Supreme X Louis Vuitton Sunglasses

   

Significantly, over the past decade, Supreme has expanded its eyewear offerings by releasing sunglasses under its own label and partnering with esteemed brands such as Louis Vuitton and Levi's, among others.

  

Take a Look at Some of Supreme's Recent Sunglass Collections...

    

Supreme Spring 24

       

Supreme Spring 23

 

Supreme Summer 22

 

We eagerly anticipate the future of Supreme eyewear, looking forward to innovative designs and bold collaborations that continue to set trends in the fashion world. Supreme's unique blend of streetwear aesthetics and high-quality craftsmanship ensures that their upcoming eyewear collections with EssilorLuxottica will captivate and inspire fans and fashion enthusiasts alike.

 

 

 

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