🕶️ Acquisition of Supreme
EssilorLuxottica, the French-Italian eyewear giant, has acquired Supreme for $1.5B. This is a strategic move outside their usual market. The acquisition price is notably less than Supreme’s actual value. VF Corp, the seller, is under pressure from shareholders to focus on their strongest brands, including Kipling and The North Face.
📈 Meta's Interest
Meta, the parent company of Facebook, is considering a 5% stake in EssilorLuxottica. Reuters reports that Meta's interest stems from their ongoing collaboration to produce Ray-Ban smart glasses. The potential investment is valued at just under $5B based on EssilorLuxottica's current market value.
🕶️ EssilorLuxottica's Background
EssilorLuxottica was formed in 2018 from the merger of Essilor and Luxottica. They manufacture eyewear and accessories for major brands like Ray-Ban, Oakley, Burberry, and Ralph Lauren. This acquisition marks a significant expansion for the company beyond eyewear.
🛹 Supreme's History
Supreme, founded in New York in 1994 as a skateboard brand, was acquired by VF Corp in late 2020 for $2B. Despite being with VF Corp for only three years, the brand has maintained its strong presence in the fashion world. This new acquisition by EssilorLuxottica could introduce new synergies and market opportunities.
Will Meta's investment change EssilorLuxottica's future?
