Supreme Confirms That It Has Sold A Minority Stake To The Carlyle Group

By  |  0 Comments
Share Button

Above Image: Supreme store in Williamsburg

UPDATE 1: In the latest Supreme news, it is now being reported that the buyout values the brand at $1 Billion USD.

According to WWD, the deal is worth $500 million USD, with Carlyle purchasing 50% of the business’ stocks.

This would put Supreme‘s market value at around the $1 billion USD mark, with expected revenue put at $100 million USD. According to WWDs report, this revelation could damage Supreme’s credibility, which is going to have to be carefully balanced with James Jebbia and Carlyle’s plans for expansion. At the time of this update, none of these details have been officially confirmed, but stay tuned to DM Fashion Book for more updates.

See original story below

NEW YORKManhattan‘s based Supreme confirms that it has sold a minority stake to Carlyle Group, the American multinational private equity, alternative asset management firm.

According to Business of Fashion, the brand and store’s founder “James Jebbia has confirmed the skater-inflected label and longtime purveyor of ‘downtown cool’ has sold a stake in the company to private equity firm The Carlyle Group“.

“We’re a growing brand, and to sustain that growth we’ve chosen to work with Carlyle, who has the operational expertise needed to keep us on the steady path we’ve been on since 1994,” said Jebbia in an exclusive statement to BoF. “Working with Carlyle allows us to concentrate on doing what we do best and remain in control of our brand, as we always have.”

Exact terms of the transaction were undisclosed, but it’s suggested Carlyle has taken a minority stake in the business.

The Carlyle Group is one of the largest private equity firms in the world, with revenues of over $2 billion and a portfolio of assets worth $193 billion.

Jebbia opened the label’s first outpost in a storefront on Lafayette Street in 1994.

Last week, the label opened its eleventh store in the gentrified Williamsburg neighborhood of Brooklyn. The new store adds to existing boutiques in Los Angeles, London, Paris and Tokyo (with the exception of Dover Street Market, the company does not wholesale). But the brand currently has no presence in China, the world’s second-largest consumer market.

 
Above Image: Supreme store in Williamsburg

Photos Credit: Supreme New York’s Instagram 

Share Button
Donovan

Donovan is the CEO and Editor-In-Chief of www.dmfashionbook.com. For all general inquiries please email don@dmfashionbook.com Donovan has a BA in Journalism & Media Studies from the prestigious Rutgers University. He's currently studying entertainment and fashion law.