Supreme founder James Jebbia has sold a stake of his company to investment firm, The Carlyle Group.
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The Carlyle Group has acquired a minority stake from skate brand Supreme.
This means that the investment firm holds less than 50 percent of the company’s stake. Despite this, some claim that the amount is still large enough to be influential – meaning The Carlyle Group might have some control over the skate brand.
The news was revealed on October 6. According to Business of Fashion, the deal marks the first time a high ranking private equity has invested in streetwear.
Not much is known about the deal, but it will reportedly allow the skate brand to grow rapidly over the next few years. Sources speculate that the deal could result in more stores outside of America, Europe, and Japan.
“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,” said Supreme founder James Jebbia in a statement on Business of Fashion.
“Working with Carlyle allows us to concentrate on doing what we do best and remain in control of our brand, as we always have,” added Jebbia.
Was this a wise move by Supreme? Let us know your thoughts in the comments below.