{"id":1274670,"date":"2024-07-18T13:52:38","date_gmt":"2024-07-18T18:52:38","guid":{"rendered":"https:\/\/www.snkrsday.com\/?p=1274670"},"modified":"2024-07-23T14:47:55","modified_gmt":"2024-07-23T19:47:55","slug":"vf-corp-sells-supreme-1-5-billion","status":"publish","type":"post","link":"https:\/\/www.snkrsday.com\/vf-corp-sells-supreme-1-5-billion\/","title":{"rendered":"VF Corp Sells Supreme for $1.5 Billion"},"content":{"rendered":"\n<h6 class=\"wp-block-heading\" id=\"h-the-sale-was-600-million-less-than-what-vf-corp-acquired-supreme-for-in-2020\">The sale was $600 million less than what VF Corp acquired Supreme for in 2020.<\/h6>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"h-update-07-23\">UPDATE (07\/23):<\/h2>\n\n\n\n<p>Mark Zuckerberg is reportedly in talks to become <a href=\"https:\/\/www.snkrsday.com\/mark-zuckerberg-meta-supreme-part-owner\/\">part owner of Supreme<\/a> as Meta eyes a 5% stake in EssilorLuxottica. Read more <a href=\"https:\/\/www.snkrsday.com\/mark-zuckerberg-meta-supreme-part-owner\/\">here<\/a>.<\/p>\n\n\n\n<p><em>The original story from July 18 can be found below. <\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>VF Corp has announced its decision to sell <a href=\"\/tag\/supreme\">Supreme<\/a> to EssilorLuxottica, marking a significant shift in the streetwear landscape. The acquisition, valued at $1.5 billion, is set to close in the second half of 2024, pending regulatory approvals.<\/p>\n\n\n\n<p>VF Corp acquired Supreme in 2020 for $2.1 billion.<\/p>\n\n\n\n<p>Supreme, founded in 1994 by James Jebbia, has become a cultural icon, synonymous with skateboarding, hip-hop, and sneaker culture. Known for its limited releases and collaborations with brands like <a href=\"\/nike\">Nike<\/a>, <a href=\"\/brand\/louis-vuitton\">Louis Vuitton<\/a>, and The North Face, Supreme has maintained a cult-like following and high resale value.<\/p>\n\n\n\n<p>The sale comes as VF Corp aims to streamline its portfolio and focus on its core outdoor and active brands, including The North Face, <a href=\"\/brand\/timberland\">Timberland<\/a>, and <a href=\"\/vans\">Vans<\/a>. <\/p>\n\n\n\n<p>EssilorLuxottica, a global leader in eyewear, sees the acquisition as a strategic move to diversify its offerings and tap into Supreme\u2019s dedicated fanbase. The company plans to leverage Supreme\u2019s strong brand identity and cultural cachet to enhance its product lineup and retail presence.<\/p>\n\n\n\n<p>Supreme\u2019s influence extends beyond fashion, impacting art, music, and popular culture. Its iconic box logo and groundbreaking collaborations have cemented its status as a symbol of streetwear\u2019s rise to mainstream recognition. <\/p>\n\n\n\n<p>As the streetwear community reacts to this unexpected move, the future of Supreme under EssilorLuxottica\u2019s ownership remains vague. Will the brand maintain its edge and exclusivity, or will this new chapter bring a different approach to its iconic cultural status? <\/p>\n\n\n\n<p>Keep it locked to <a href=\"http:\/\/instagram.com\/nicekicks\">Snkrs Day<\/a> on Instagram and the <a href=\"\/sneaker-release-dates\">sneaker release dates<\/a> page to stay on top of the latest news and drops. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The sale was $600 million less than what VF Corp acquired Supreme for in 2020. UPDATE (07\/23): Mark Zuckerberg is&hellip;<\/p>\n","protected":false},"author":328301,"featured_media":1274675,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[933],"cultivate_rss":[],"class_list":{"2":"type-post"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.0 (Yoast SEO v24.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>VF Corp Sells Supreme for $1.5 Billion | Snkrs Day<\/title>\n<meta name=\"description\" content=\"VF Corp is selling Supreme to EssilorLuxottica after acquiring the brand in 2020. 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