Supreme Sells out for $2.1B

Posted on: November 10th, 2020 at 5:05 am by

Photo: Sue

Supreme, the cultish streetwear brand synonymous with downtown New York City, sold out for an enormous windfall.

VF acquired the decades-old brand for a massive $2.1 billion, including the stakes Carlyle Group and Goode Partners had acquired back in 2017, according to the Wall Street Journal. The Supreme brand joins a portfolio that also includes Vans and Timberland.

VF ex­ec­u­tives said Supreme’s cur­rent busi­ness model will remain unchanged and doesn’t see much cost sav­ings in the near term through the com­bi­na­tion.

Per the article, the majority of Supreme’s $500 mil­lion revenue comes from on­line or­ders, leaving “more room for ad­di­tional bricks-and-mor­tar shops.”

Supreme was founded in April 1994 by James Jebbia. The distinctive red box logo with white Futura Heavy Oblique font is borrowed heavily from Barbara Kruger’s propaganda art. It was headquartered on Lafayette Street until October 2019, when it relocated to the iconic Germania Bank Building on the Bowery.

Recent Stories

Displaced Chinatown Business Returns Months After Devastating Fire

Four months after a deadly fire knocked out 78 Mulberry Street, one of its businesses returned to the scene. Ewa Trading Company reopened in its former Chinatown home earlier this week. The store had spent some of the interim displacement period selling from a shuttered Vietnamese restaurant a few paces north. The two-alarm fire broke […]

EDC Sues Essex Restaurant for Back Rent over Former Essex Market Lease

Three years removed from its relocation across Rivington Street, the city filed suit against the Essex restaurant for alleged unpaid rent. The Economic Development Corporation (EDC) sued Essex for nearly $60,000 in unpaid back rent on the former Essex Market building it previously occupied, according to the lawsuit filed Monday. The city entity claims that […]

Exile on Orchard Street: Tenement Museum Recreates Exhibits During Renovations

The Tenement Museum is amidst a preservation project at 97 Orchard Street, but will continue its programming with replicas not too far away. The 1863-era tenement this past Sunday embarked on “vital” restoration work to preserve its walls, floors, roof, as well as the installation of a new HVAC system that will provide improved climate […]

Former Home of Stanton Social on the LES Hits Market for $5.9M

Stanton Social has been in the grave for nearly four years. Now, its former home is back on the market. The two-story building – located at 99 Stanton Street in Hell Square – carries an asking price of $5.9 million. B6 Real Estate Advisors is listed as the exclusive brokerage for the property, which has […]

DOT to Pave Pock-Marked Pell Street; Sheds Removed

Pell Street is finally on deck for a resurfacing, forcing numerous Chinatown businesses to dismantle their street shed annexes. Those who operate outdoor dining sheds along Pell Street received notice this week from the Department of Transportation to dismantle structure ahead of scheduled street repaving. This small neighborhood street – which once terminated at Division – […]