What to Know About Supreme's New Owner, EssilorLuxottica

#### The Acquisition Details

EssilorLuxottica, known for owning renowned eyewear brands like Ray-Ban, Oakley, and Persol, has finalized an agreement to purchase Supreme, a brand synonymous with streetwear culture. The transaction, valued at $1.5 billion, is expected to close by the end of 2024, pending customary closing conditions and regulatory approvals.

Supreme, founded in 1994 by James Jebbia, has a strong following in the skateboarding and urban fashion communities. The brand has built its reputation through high-profile collaborations with brands like Nike, Louis Vuitton, and The North Face. Under VF Corporation, which acquired Supreme in 2020, the brand expanded significantly in key markets such as China and South Korea.

#### Strategic Importance for EssilorLuxottica

The acquisition of Supreme aligns with EssilorLuxottica’s strategy to diversify and innovate. Francesco Milleri, Chairman and CEO of EssilorLuxottica, expressed that Supreme's unique brand identity and direct-to-consumer approach will complement EssilorLuxottica's existing portfolio. This move provides EssilorLuxottica with a direct connection to new audiences and creative markets, aligning with their innovation and development goals.

Supreme will maintain its brand autonomy within EssilorLuxottica’s portfolio, leveraging the parent company’s extensive operational platform to enhance its market presence. This acquisition also reflects EssilorLuxottica’s broader strategy to integrate lifestyle and fashion elements into its core business, moving beyond traditional eyewear.

#### Impact on the Market

The acquisition has been well-received by the market, reflecting EssilorLuxottica's ability to strategically diversify its portfolio. This move is expected to strengthen Supreme's growth trajectory, allowing it to capitalize on EssilorLuxottica’s global reach and expertise in brand management. It also provides VF Corporation with increased balance sheet flexibility, supporting its long-term growth objectives.

#### Conclusion

EssilorLuxottica’s acquisition of Supreme is a significant milestone in the fashion and eyewear industries, marking the convergence of high-end streetwear with luxury eyewear expertise. This move not only broadens EssilorLuxottica’s brand portfolio but also sets the stage for innovative cross-industry collaborations. As Supreme continues to thrive under new ownership, fans and investors alike can look forward to exciting developments and expansions in the brand’s future.

For more detailed information, you can read about the acquisition on [Marketing-Interactive](https://www.marketing-interactive.com) and [The Retail Bulletin](https://www.theretailbulletin.com).