Following Giorgio Armani's death, major luxury companies like LVMH, L’Oréal, and EssilorLuxottica have expressed interest in acquiring his fashion group, with potential stakes to be sold over the next few years. Armani's will designates the Armani Foundation to oversee the company's future, emphasizing brand continuity, strategic growth, and cautious diversification, while maintaining control within the family and key partners like Leo Dell'Orco.
EssilorLuxottica reported better-than-expected Q2 revenue driven by strong European sales and a surge in smart-glasses like Ray-Ban Meta, as it accelerates its wearable technology initiatives and plans further product launches and capacity expansion, despite tariffs impacting North American results.
Italian eyewear manufacturer EssilorLuxottica is acquiring streetwear brand Supreme for $1.5 billion from VF Corp, which bought it for $2.1 billion in 2020. The sale reflects limited synergies between Supreme and VF Corp's other brands, and comes as Supreme's popularity has waned. EssilorLuxottica sees the acquisition as a way to connect with new audiences and expand its portfolio.
EssilorLuxottica is acquiring streetwear brand Supreme from VF Corporation for $1.5 billion USD. Supreme will continue to operate as a global lifestyle apparel brand, with founder James Jebbia remaining involved. The deal is expected to close by the end of 2024.
EssilorLuxottica has agreed to acquire the Supreme brand from VF Corporation for $1.5 billion in cash. The acquisition is expected to close by the end of the year, subject to regulatory approvals. Supreme, known for its digital-first business and 17 global stores, will join EssilorLuxottica's portfolio, leveraging the eyewear giant's expertise and operating platform. VF Corporation, which bought Supreme for $2.1 billion in 2020, decided to sell due to limited synergies with its integrated model.
