The once-thriving skateboarding fashion brand Supreme, which used to have long lines outside its stores, is reportedly up for sale by VF Corp.
According to reports, the giant corporation is considering selling Supreme amid challenges with shrinking revenue.
The parent company, which acquired Supreme in 2020 for $2.1 billion, quietly shops the skateboarding fashion brand to potential buyers. VF Corp has enlisted the help of Goldman Sachs to review its portfolio.
Some people are wondering if Supreme can keep its cool factor now that it's owned by a big corporation.
Despite its popularity, Supreme had some supply chain problems in 2022, which was surprising given VF’s history.
As we previously reported, the corporate giant cut 500 jobs in a company-wide restructuring and needed to sell one of their brands to improve stability.
In 2023, VF had to account for some financial issues related to Supreme, but things have been getting better.
VF’s CFO reported good growth and momentum for Supreme, and the founder, James Jebbia, is still in charge, dealing with the challenges within VF’s larger group of brands.