Fashion label Supreme will be acquired by EssilorLuxottica for $1.5 billion in cash, VF Corporation announced yesterday. The skate brand, founded by James Jebbia in 1994, is known for its limited-edition releases and collaborations. EssilorLuxottica, known for brands like Oakley and Ray-Ban, sees the acquisition as an opportunity to connect with new audiences and maintain Supreme’s direct-to-consumer sales model. VF Corporation, which bought Supreme in 2020, cited limited synergies as a reason for the sale.