Supreme’s store in Berlin. Courtesy
The streetwear label continues its retail expansion plans, announcing the opening of its first store in Germany and its 14th store globally on Wednesday. Most recently, it opened a location in Milan in May. Berlin had been on the brand’s radar as a potential retail location for years.
When Supreme was acquired by VF Corp in late 2020, it reported generating more than 60 percent of its sales through e-commerce, with overall revenue more than doubling in the preceding three years. VF said in January that it expects Supreme to generate $500 million in the current fiscal year and that it will take a hands-off approach with the brand.
Why Supreme Sold to VF Corporation
In a deal that values the New York streetwear brand at $2.1 billion, Supreme picks up a long-term partner with back-end prowess and ambitions to scale it past $1 billion in annual sales.