This time, an eyewear conglomerate snapped it up. No matter who owns it, is Supreme as hot as it once was? Do they matter?

The unmistakable box logo of Supreme, plastered on the window of a reseller in Orchard Road. File photo: Zhao Xiangji for SOTD

That Supreme was put up for sale once again could be indication that the brand is not that desirable to keep. While it may not be one to hold on to, it could be one to buy. At least to the world’s largest eyewear manufacturer and retailer. The transaction was recently confirmed after the unlikely EssilorLuxottica (formerly just Luxottica)—the eyewear manufacturer—acquired it from VF Corp (VFC), owner of footwear and clothing brands Vans and Dickies respectively. VFC purchased Supreme at the height of the COVID 19 pandemic in 2020 for a reported US$2.1 billion (or about S$2.82 billion). And now EssilorLuxottica bought it for US$1.5 billion—with cash, according to CBS News.

EssilorLuxottica is generally unknown to those outside the industry. Under their stable are some of the biggest names in spectacles and shades, such as Ray-Ban, Oakley, Persol, and Oliver Peoples. They also have eyewear licencing deals with luxury brands, including Prada and Chanel. The purchase of Supreme is EssilorLuxottica’s first investment in clothing brands. The purchase has puzzled industry watchers. Many are unsure what EssilorLuxottica can do with a streetwear brand that is losing its importance in the market. In a statement to the media, the company said, “We see an incredible opportunity in bringing an iconic brand like Supreme into our company. It perfectly aligns with our innovation and development journey, offering us a direct connection to new audiences, languages and creativity.”

The purchase has puzzled industry watchers. Many are unsure what EssilorLuxottica can do with a streetwear brand that is losing its importance in the market

Supreme has been hype-driven for a very long time. Much of their merchandise, especially the non-wearable, have little commercial value if not for the prominent logo placement. Clothing-wise, little has changed—even the shapes of their T-shirts. Many (young) people buy Supreme to sell online. Their appeal to us reached the apex in 2017, with the Louis Vuitton collaboration that was quite the sold-out retail event that it turned out to be. Supreme has not been that widely available in this part of the world, except in Japan, where they have their own free-standing store—not one but two—in Tokyo or at streetwear resellers, such as Heat Sneaker and Apparel at Midpoint Orchard or East Eight Orchard Gateway. Or, at sneaker fairs such as Culture Cartel. In China, Supreme finally opened a store in March this year.

The aesthetical appeal of the Supreme is not immediately clear. We have visited their debut store on Lafayette Street in New York in the ’90s (back then, they were primarily a skate shop), their Tokyo store in Shibuya and their London flagship on Peter Street in the 2000s, and we have never found anything to buy or that was worth buying. In these past years, Supreme’s popularity is no doubt affected by the overabundance of knockoffs, as well as competition from the likes of Acme de la Vie (from Korea) or the still-strong Stussy. It is not yet clear what EssilorLuxottica can do for Supreme that VFC has not or could not. And with Louis Vuitton and others occupying similar streetwear space, it is not certain where exactly Supreme can make a comeback. Or how higher up it can scale.