EssilorLuxottica Acquires Supreme for $1.5 Billion

VF Corporation offloads the streetwear brand to focus on core assets, while the eyewear giant aims to diversify its portfolio.

VF Corporation sold Supreme to EssilorLuxottica for $1.5 billion, a significant drop from its 2020 purchase price of $2.1 billion.
The sale follows VF's strategic review, which found limited synergies between Supreme and its other brands.
EssilorLuxottica sees the acquisition as a way to connect with new audiences and expand beyond eyewear.
Supreme founder James Jebbia supports the move, believing it will help the brand focus on its core values and customers.
The transaction is expected to close by the end of 2024, pending regulatory approvals.