Despite the poor economic climate, the big names in the fashion world continue to shine. In a first in the history of streetwear, the legendary brand Supreme was sold to the VF corporation group for approximately 2.1 billion dollars. Definitely unheard of!
How did we get here? Could this deal change the world of streetwear as we know it? We take stock of this unprecedented event.
A little background to understand the current situation. Supreme, the new generation's favorite urban fashion brand, began its journey in 1994.
Its founder, James Jebbia, started by selling printed T-shirts that quickly seduced the skateboarding community, and by extension all hip-hop lovers. Within a few years, they dominated the streetwear scene.
Supreme's worldwide success has propelled it to the rank of luxury brands. So much so that in 2017, they sold 50% of their capital to the Carlyle Group for no less than $500 million. That alone! The value of the company would therefore be estimated at 1 billion at that time.
We must believe that its potential has doubled since then, since in late 2020, VF Corporation bought them for the sum of 2 billion dollars. Not so surprising, when you know that this is the group that also owns Timberland, The North Face, Vans, and Dickies. So they add a rare gem to their collection of luxurious urban fashion brands.
We'll reassure you right away, the Supreme team and founder James Jebbia will have no restrictions on artistic freedom. That is to say, the image and policy of the brand will not change course all of a sudden. So they will keep the same current system.
As a reminder, Supreme has collaborated with the VF Corporation branches before. Given the quality of the previous collections, we are rather optimistic about the turn of events. To be followed in the coming months.
One might ask why of all the fashion brands, VF Corporation bet so heavily on Supreme? In fact, it's one of the best investments they could have made. Given the strong growth potential and incredible popularity they have with the youth, the streetwear founders could be very profitable.
The kings of logomania know how to pull the right strings, and have the art and manner to seduce customers. It's not for nothing that we see huge queues in front of their stores.
The secret is exclusivity, the release of limited editions on a regular basis. While the competition produces large quantities with each new collection, Supreme relies on the rarity of each individual item.
When you also take into consideration the quality of their productions, you start to fully appreciate their importance in urban fashion. Now that Supreme has been sold back to VF Corporation, will they carry the same weight on the scene? According to the experts, the answer is obvious.
The Supreme acquisition is a real cataclysm for the world of urban fashion, but not like you might think. In fact, streetwear is far from being dead, and surprisingly it has never been better! A little explanation is in order.
Over the years, Supreme has established itself as one of the names that dictate the values of streetwear. More than a simple brand, it is a whole spirit and a real culture that this slogan carries. It is undoubtedly one of the strong points that made its success.
At a time when the word "streetwear" had lost all meaning, Supreme has come to redefine this unique style of clothing. Its streetwear is original and original, made without distinction of gender or age. A very powerful argument that gives a whole new dimension to the brand.
To say, its magnitude has not gone unnoticed, and this is undoubtedly what allowed Supreme to convince the biggest names in fashion to partner with it.
That's why the acquisition of Supreme only reinforces this culture. VF Corporation wants to keep the fashion label evolving and keep the magic of streetwear alive.
Supreme's creator, James Jebbia, points out that, "This partnership will maintain our unique culture and independence, while allowing us to grow on the same path we've been on since 1994."
If you're still skeptical, the best indicator remains the runaway success of Supreme's Direct-to-Customer sales model, which is doing better than ever. You've probably already seen endless lines at the opening of the brand's stores. Or heard about inventory running out within minutes of going on sale.
Yes, Supreme is synonymous with streetwear. The secret weapon behind this symbolism is quite simple: quality and originality of the product combined with customer loyalty.
So, you will have understood, the impact of the Supreme sale on modern streetwear is going to be sensational! We can't wait to see them excel under new skies, and to admire them mark the modern world with their simplicity once again.
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