VF sells Supreme for $1.5B

Quick Summary:

Luxury eyewear company EssilorLuxottica agreed to buy the brand, and the deal is expected to close at the end of the year.

In its most recent earnings report in April, EssilorLuxottica reported revenue of 6.3 billion euros, or about $6.9 billion, a 3% increase.

On the flip side, Supreme was easily the most profitable brand in the portfolio…so they will be giving up quite a bit of profit in this deal.

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Article Details

Author / Journalist: Laurel Deppen

Category: EconomyBusiness

Markets: United StatesFranceMali

Topics: Supreme Brand Portfolio Vf’s North Billion Company Deal Licensed Essilorluxottica Eyewear

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-18 @ 09:46:00 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: retaildive.com

Language: English

Article Length: 675 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Retail Dive

News ID: 21675180

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