Supreme is now off the market. VF Corporation, home to fashion brands like The North Face, Vans, and Timberland, has now acquired the streetwear brand in a $2.1 billion deal.
"We are proud to join VF, a world-class company that is home to great brands we've worked with for years, including The North Face, Vans, and Timberland," Supreme founder James Jebbia said in an official statement, released on Monday. "This partnership will maintain our unique culture and independence, while allowing us to grow on the same path we’ve been on since 1994."
Jebbia also said that he, along with the rest of the brand's senior leadership team, will still be working with the company and maintaining its HQ in New York City and continue to collaborate with brands outside of VF's portfolio. According to VF's announcement on Monday, the new deal, which will be completed by the end of 2020, will help Supreme with its global supply chain, international platforms, and more.
"This will take time," VF's Chairman Steve Rendle told WWD. “We talk about a light-touch integration with this business because it's very successful, operating at a very high level today. We'll take our time to get to know each other. This brand will continue to operate as it always has, we do not look to come in and make any changes. We're here to help, support, and enable."
That should come as good news to longtime Supreme fans who have made a lifestyle out of the brand's sold-out-in-seconds product drops. Rest assured those long lines on Lafayette St. aren't going anywhere.