Editor
French-Italian eyewear group EssilorLuxottica is buying New York-based streetwear juggernaut Supreme from US apparel group VF Corp. for $1.5 billion in cash, in a surprise deal announced Wednesday morning.
The deal price represented a comedown from the $2.1 billion VF paid for the brand four years ago.
Since VF acquired Supreme in 2020, excitement around streetwear has cooled as some consumers (and luxury brands, which co-opted its aesthetic,…
