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.

 

Related News

Italy and Netherlands Collaborate to Relaunch and Boost Export Growth

08 Apr, 2025

Caserta is hosting a major event in the economic dialogue…
Read More
Italy Faces Heavy Impact as U.S. Tariffs Hit Businesses

03 Apr, 2025

Italy’s Prime Minister Giorgia Meloni and the country’s top business…
Read More
Italy Business, Consumer Confidence Declines in March Amid Worsening Outlook

28 Mar, 2025

Italy’s business and consumer confidence declined sharply in March, signaling…
Read More
Italy & U.S.: Strengthening Trade Partnership with Trust, Growth, and Opportunity

26 Mar, 2025

The trade relationship between Italy and the United States goes…
Read More
Greece-Italy seek EU PCI approval to boost economy via energy link

19 Mar, 2025

Greece’s Independent Power Transmission Operator (ADMIE) and Italy’s Transmission System…
Read More
Libya-Italy Business Forum planned in Benghazi as Ita Airways resumes flights

13 Mar, 2025

The upcoming Italian-Libyan Business Forum in Benghazi, coinciding with Ita…
Read More

Interview

© 2025 Business International News. All rights reserved | Powered by Cred Matters.