Supreme has reportedly sold a 50% stake in its business to investment firm The Carlyle Group for an enormous $500 million. If the figures being reported by Women’s Wear Daily (who broke the story of the sale) are accurate, it puts Supreme’s valuation at an incredible $1 billion.
Supreme founder James Jebbia confirmed a deal has been made with Carlyle, but the details of that deal are yet to be made public. WWD reports that the founder is worried the money being talked about could damage Supreme’s credibility.
Jebbia spoke to Business of Fashion about working with Carlyle, saying: “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. Working with Carlyle allows us to concentrate on doing what we do best and remain in control of our brand, as we always have.”
Bigger business will hopefully mean more stock. So if you have ever struggled to get your hands on a piece of Supreme apparel in the past, looks like in the future there’ll be more of it around to drive sales up.