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.
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"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.
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