The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The streetwear label continues its retail expansion plans, announcing the opening of its first store in Germany and its 14th store globally on Wednesday. Most recently, it opened a location in Milan in May. Berlin had been on the brand’s radar as a potential retail location for years.
When Supreme was acquired by VF Corp in late 2020, it reported generating more than 60 percent of its sales through e-commerce, with overall revenue more than doubling in the preceding three years. VF said in January that it expects Supreme to generate $500 million in the current fiscal year and that it will take a hands-off approach with the brand.
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Why Supreme Sold to VF Corporation
In a deal that values the New York streetwear brand at $2.1 billion, Supreme picks up a long-term partner with back-end prowess and ambitions to scale it past $1 billion in annual sales.
The Japanese apparel chain will be launching its sister brand GU in the US later this year, targeting younger consumers with lower prices and a curated selection of trendy wares.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.