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The streetwear label continues its retail expansion plans, announcing the opening of its first store in Germany and its 14th store globally on Wednesday. Most recently, it opened a location in Milan in May. Berlin had been on the brand’s radar as a potential retail location for years.
When Supreme was acquired by VF Corp in late 2020, it reported generating more than 60 percent of its sales through e-commerce, with overall revenue more than doubling in the preceding three years. VF said in January that it expects Supreme to generate $500 million in the current fiscal year and that it will take a hands-off approach with the brand.
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Why Supreme Sold to VF Corporation
In a deal that values the New York streetwear brand at $2.1 billion, Supreme picks up a long-term partner with back-end prowess and ambitions to scale it past $1 billion in annual sales.
