Report: LVMH Did Not Acquire Supreme for $500 Million USD
Industry insiders have shot down the rumors.
Earlier this week, it was rumored that Louis Vuitton‘s parent company LVMH had bought Supreme for $500 million USD. According to Business of Fashion, however, sources close to both brands have denied the acquisition, despite their hugely successfully collaboration unveiled at Paris Fashion Week Men’s.
A spokesperson for Supreme told BoF that the purchase announcement was merely a “rumor that was started online.” LVMH has not commented officially on this matter.
Respected industry insiders have also spoken out against the false report. The New York Times‘ Fashion Director Vanessa Friedman tweeted “this is not true, while style reporter Matthew Schneier wrote that he “spoke to Jebbia, Supreme founder/owner,” and that the rumors were “not true.”
Be sure to stay with us for further updates.
Before everyone gets too excited about @LVMH buying Supreme — this is not true.
— Vanessa Friedman (@VVFriedman) February 9, 2017
Rumors of LVMH buying Supreme are roiling the Fuccternet today. Sorry to burst bubble: I spoke to Jebbia, Supreme founder/owner. Not true.
— Matthew Schneier (@MatthewSchneier) February 9, 2017