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News broke this week that the Paris-based global optical giant EssilorLuxottica, owner of Ray-Ban and Oakley, has agreed to acquire Supreme from VF Corp for a cool $1.5 billion in cash. VF purchased Supreme in 2020 for $2.1 billion.
In a press release, Supreme Founder James Jebbia said, “In EssilorLuxottica, we have a unique partner that understands that we are at our best when we stay true to the brand and continue to operate and grow as we have for the past 30 years. This move lets us focus on the brand, our products, and our customers, while setting us up for long-term success.”
The deal is expected to close in 2024. Read the full release here.
And in yet another curveball, the Wall Street Journal reports that Meta is in talks to buy a stake in EssilorLuxottica.
