The transaction is expected to be completed by the end of 2024. The sale of the Supreme brand, which operates a digital-first business and 17 stores in the US, Asia and Europe, will dilute VF’s earnings per share in the 2025 financial year, the companies said.
Supreme was acquired by VF Corp in 2020 for 2.1 billion euros, after which the brand began focusing on international store openings, including its latest locations in Seoul and Shanghai. With the acquisition of Supreme, EssilorLuxottica now owns four brands, including Pearle, Ray-Ban and Oakley.
“We see an incredible opportunity in bringing an iconic brand like Supreme into our Company,” share Francesco Milleri, Chairman and Chief Executive Officer and Paul du Saillant, Deputy Chief Executive Officer at EssilorLuxottica. “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.”
“In EssilorLuxottica, we have a unique partner that understands that we are at our best when we stay true to the brand and continue to operate and grow as we have for the past 30 years,” commented Supreme Founder James Jebbia. “This move lets us focus on the brand, our products, and our customers, while setting us up for long-term success.”
