Streetwear brand Supreme to be sold to Timberland owner VF for $2.1bn
Supreme, the face of hyped streetwear brands, is reportedly being sold to VF Corporation, the Denver-based owner of famous names such as Vans, The North Face, and Timberland, in a deal estimated at a hefty sum of $2.1bn.
Put together by James Jebbia, a UK child actor turned skateboarder who brands at a small convention New York store in 1989, Supreme has been at the forefront of a streetwear revolution that, in terms of marketing and exclusivity, has turned the fashion industry on its head.
According to VF, as of now-Supreme produces more than $500m in annual income, up from an approx $200m in 2017. To VF, more than 60% of Supreme’s income exists from online orders. The company said it expects revenues to increase by a sweet 8-10% over the next three financial years.
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