Lifestyle brand Supreme has agreed to be sold to Timberland owner VF Corporation for $2.1 Billion.
The 'Chanel of Streetwear' was founded by James Jebbia, a UK-raised child actor turned skateboarder who created the brand in a small downtown New York store in 1989.
The counter-culture brand Supreme has maintained its appeal with tightly controlled product releases, known as “drops”, that often have customers queueing around the block at its 12 locations around the world. These product releases have also often involved collaborations with contemporary artists, actors and musicians – among them Lou Reed and Chloe Sevigny, who both served as brand ambassadors, Kaws, Damien Hirst, Takashi Murakami and Richard Prince, as well as bands including the Clash and the Misfits.
VF Corporation is purchasing Supreme away from private equity firm Carlyle Group and investors including Goode Partners. The new owners plan to learn more from Supreme’s model, which relies on weekly release of new products and frequent collaborations.
😊 Can you stay 'cool' and get bigger? Well, that is the question that customers and investors will be asking. Will the resources of VF group help or hinder the future of Supreme? Is Supreme's model of limited products and high demand sustainable as the brand tries to scale up and reach more consumers? Time will tell...