EssilorLuxottica Acquires Supreme for $1.5 Billion
Wednesday, 17 July 2024, 15:43
EssilorLuxottica Acquires Supreme
EssilorLuxottica, the renowned maker of Ray-Ban sunglasses, has announced its acquisition of the iconic streetwear brand Supreme for $1.5 billion in cash. This deal reflects a significant strategic shift.
Key Details of the Acquisition
- Purchase Price: The acquisition was finalized at an impressive $1.5 billion.
- Expected Closing: The transaction is anticipated to close by the end of the year.
- Industry Impact: Both brands promise to bring unique opportunities for collaboration and market expansion.
Conclusion
This acquisition marks an exciting chapter in both streetwear and luxury fashion, underscoring the opportunities for future growth and innovation in the apparel industry.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.