Supreme Acquired For $2.1 Billion In Massive Deal

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Supreme
Supreme will now be owned by the corporation that owns brands like Vans and Timberland.

Supreme is one of the biggest streetwear brands in the entire world, and now, they are being sold for a whopping $2.1 billion. Back in 2017, it was reported that the brand had been sold to The Carlyle Group for upwards of $1 billion and it would be the first time that private investors would be involved in the brand. According to Hypebeast, The Carlyle Group typically buys companies, increases their value, and sells their shares just a few years later, which is exactly what has happened.

In the report, it was revealed that the VF Corporation will now own Supreme. This corporation has various other companies under its belt, including The North Face, Vans, Dickies, Timberland, and others. While this is a massive acquisition, it has been stated that Supreme's direction will not change as a result.

Supreme Acquired For $2.1 Billion In Massive Deal
Joe Raedle/Getty Images

"We are proud to join VF, a world-class company that is home to great brands we’ve worked with for years, including The North Face, Vans, and Timberland," Supreme founder James Jebbia noted in a statement. "This partnership will maintain our unique culture and independence, while allowing us to grow on the same path we’ve been on since 1994.”

Supreme has remained a staple of streetwear culture for decades and this $2.1 billion deal is yet another example of how far they've come since their humble beginnings. Keep it locked to HNHH as we will continue to bring streetwear-related news.

[Via]


About The Author
Alexander Cole is the current Managing Editor of HotNewHipHop. He started at HotNewHipHop back in 2018 where he began as a Sports and Sneakers writer. During this time, he has shown an expertise in Air Jordans, Yeezys, and all things that have to do with Nike. His favorite kicks are the Air Jordan 1 High OG, the Air Jordan 4, the Air Jordan 6, and the Adidas Yeezy Boost 350 V2 in the "Beluga 2.0" colorway. Although his collection might not be the biggest, he is always looking to add new styles to it. When it comes to sports, Alex has a particular interest in the NBA and the NFL. His favorite teams are anywhere LeBron goes, and the Kansas City Chiefs. As a Montrealer, the Montreal Canadiens hold a special place in his heart, even if they haven't won the Stanley Cup in his lifetime. Alex also works for the Concordia Stingers, where he provides play-by-play and color commentary for the football, hockey, and basketball teams His favorite hip-hop artists are Kendrick Lamar, Playboi Carti, Travis Scott, and Lil Uzi Vert.
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