Louis Vuitton has bought over Supreme, if the rumors are true.
Word on the street is that LVMH, the parent company of Louis Vuitton has purchased Supreme for US$500 million.
The rumor, which first began on Thursday night, has since spread across the Internet like wildfire. This has been the hottest news involving both brands since their collaboration unveiled at Paris Menswear Week.
But sources like New York Times fashion critic, Vanessa Friedman, believes the rumor to be untrue. In her Twitter post, she wrote, “Before everyone gets too excited about @LVMH buying Supreme — this is not true.”
Kim Hastreiter, co-founder of Paper magazine and a close friend of Supreme’s added another layer of doubt to the rumors after posting on Instagram to say that the news is “likely not true (yet)”.
Representatives from either company have declined to comment on the rumor, when reached out by the media.
According to The Fader, reps from LVMH simply replied to say that “the company doesn’t comment on rumors or speculation of any kind”.
If the claims are true, it would be a clear signifier of LVMH’s desire to engage with the “newer, millennial generation”.
If the rumors are true, they would explain LVMH’s recent purchasing spree of smaller fashion companies and start-ups. It would also explain the departure of Supreme’s longtime creative director Angelo Baque.
With a number of contradicting sources, we won’t know for sure until either company makes it official. Stay tuned to Straatosphere as this story unfolds.