EssilorLuxottica: acquires Supreme brand

(CercleFinance.com) - EssilorLuxottica announces that it has signed an agreement to acquire the Supreme brand from apparel, footwear and accessories group VF Corporation, for a total cash consideration of $1.
5bn.

Following a strategic review of its portfolio, VF has concluded that synergies are limited with Supreme, which operates primarily online and has a network of 17 stores in the US, Asia and Europe.

Perfectly in line with our path of innovation and development, this acquisition gives us direct access to new audiences, modes of expression and creative approaches, the Franco-Italian optical giant says.

The sale is expected to be completed before the end of 2024, subject to regulatory approvals and other customary conditions. It is expected to be dilutive to VF's EPS in FY 2025.


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