EssilorLuxottica to Acquire Supreme for $1.5 Billion in Cash from VF Corp.

Jul 17, 2024, 08:40 AM

EssilorLuxottica, the French-Italian eyewear maker, has agreed to acquire the streetwear brand Supreme from V.F. Corporation for $1.5 billion in cash. This transaction, announced on Wednesday, is expected to be dilutive to VF’s earnings per share in the fiscal year 2025. VF Corporation had previously purchased Supreme in November 2020 for $2.1 billion. The sale comes amid sliding sales and declining interest in streetwear. Following the announcement, VF Corp.’s stock rose by 1.3%.