Ray-Ban Maker EssilorLuxottica Acquires Supreme for $1.5 Billion

Ray-Ban Maker EssilorLuxottica Acquires Supreme for $1.5 Billion

18 Jul, 2024

Ray-Ban Maker EssilorLuxottica Acquires Supreme for $1.5 Billion

EssilorLuxottica has agreed to buy streetwear brand Supreme from VF Corporation for $1.5 billion, marking its first acquisition of an apparel company. The Franco-Italian eyewear maker aims to tap into Supreme's platform, big data, and Generation Z audience. Additionally, EssilorLuxottica will acquire an 80% stake in Heidelberg Engineering, enhancing its medical technology portfolio. This unexpected move comes amid declining consumer engagement in streetwear brands. Analysts note the acquisition's strategic timing and potential benefits for EssilorLuxottica's market expansion. The Supreme deal is seen as a way to diversify and connect with a younger demographic.

 

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