From a streetwear icon to a struggling business? Supreme's recent revenue report reveals a major loss of $38.4 million YoY. 📉
at the time of the merger, the deal appeared to have advantages for both sides; its Denver-based owner could offer operational support and data knowhow, while Supreme could reveal the secret of how it makes consumers absolutely lose their minds over a limited-edition product.
“We talk about a light-touch integration with this business because it’s very successful, operating at a very high level today. We’ll take our time to get to know each other,” VF Corp chairman, president, and CEO Steve Rendle toldat the time of the acquisition. “This brand will continue to operate as it always has; we do not look to come in and make any changes. We’re here to help, support and enable.
“I think they opened too many stores and basically put out too much product,” Gary Wong, a longtime Supreme collector, told the newspaper. “Back in the day, when there was a North Face [collaboration] drop, it was impossible to get—and nowadays, you can essentially walk into the store the next day or the week after, and still be able to buy it.”
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