|Headquarters Regions:||New York, New York, United States|
|Founded Date:||April 1994|
|Number of Employees:||1000+|
|Area served:||United States of America|
|Products of Company:||skateboarding lifestyle brand|
|Net Worth in 2023:||$1 Billion|
Supreme is a globally famous brand of skateboards and clothing. It’s been 26 years since its inception, and it has grown to be a luxury brand now. There are only 12 outlets of Supreme in the world, and the owners like to keep it exclusive and private. The brand took its time to get famous, and it was a slow-paced win. Let’s know more about Supreme in this article.
Well, how well do you know about Supreme? If not much, we have compiled all you need to know about Supreme’s net worth in 2023, wiki and complete details. Well, if you’re all set, here is what we know about Supreme to date.
Supreme was established back in April 1994 and was targeted on skateboarding. It was started by James Jebbia, and the first store was opened in SoHo, New York City. Back then, it was a small shop with skateboards. James had worked with Shawn Stussy, who was a designer as well as a skateboarder. James became more interested in skateboards while working with him, and he thought of opening his own store for it. Skates were booming among the youths in New York at that time, and James was fascinated by the effortless and edgy styles in which the skates were made.
Supreme took its time to get famous, and it was never pushed by advertising a lot. It got recognized for its style, and later it became a symbol of streetwear fashion. It evolved a lot in these 26 years, and gradually they also started their clothing line. After ten years of opening its first store, they opened a second store in LA, and then later, two stores were opened in New York City. Eventually, they also opened six stores in Japan and outposts in London and Paris. It was recently in 2019 that they opened a store in San Francisco. As it grew, it became a statement for streetwear and was collaborated by famous brands like Levi’s, Nike, and Louis Vuitton.
They were never afraid of new changes, and the brand has collaborated with various brands and designers in the past 26 years. They keep on experimenting, and that is the best thing about them, the fans say. They also collaborated with Gucci. Supreme has changed how people view skateboarding culture, and it has created a new culture for skateboarding, and consumers seem to love it.
Supreme has a lot of consumers and fewer outlets; hence usually, there is a long queue for the clothing line for the stores. At their events, people stand in queue for about 4 to 5 hours with tickets. The marketing for Supreme is only by word of mouth, and consumers stay loyal to the brand due to its updating style, and the consumers also love the experiments they do.
Supreme was sold to VF Corporation in November 2020 for the US $2.1 billion. They have announced that a new store will be opened in Milan on 6th May 2021, which will be their 13th store.
Awards & Achievements
Supreme has not won many awards, but it has evolved slowly and hugely, from a small shop in New York City to a billion-dollar brand. In 2019 Supreme won the award “Menswear Designer of the Year Award” from the Council of Fashion Designers of America.
Supreme has collaborated with many global luxury brands, and recently they collaborated with Takashi Murakami, and it raised $1 million for the COVID-19 pandemic relief.
It also collaborated with Kangol, which is a famous hat brand. In the 2017 Fall-Winter Season, Supreme worked in collaboration with Louis Vuitton for their menswear collection.
Net Worth & Earnings of Supreme in 2023
As of 2023, The net worth of the Supreme brand is $1 billion, but it is not just a brand for its consumers. It is a culture entirely, and people follow Supreme for its streetwear and skateboarding culture more than just for clothes and items.
Supreme also had to face many problems to trademark the brand, as there were many businesses with the name “Supreme”. It was a difficult name to trademark, but they succeeded in 2012. It won a lawsuit against an Italian company called “Supreme Italia,” which was selling the illegal copies of Supreme products.
They produced clothing very much similar to Supreme, with a matching logo, and sold at a lesser price. Finally, Supreme Italia was shut down in the Italian market, but it was found that they still continued to sell in China and Spain and boomed a lot as well.
Also, due to its significantly less availability and considerable lines in the store, people buy the merchandise and sell it at higher prices. It is a common sight outside the stores that most of the people standing there are in line for someone else and not for themselves. Also, as the stock ends, they increase the prices of products. But consumers do not mind this, and there is always a two to three-hour line outside the stores.
To conclude, one could say that Supreme has been an ideal brand and has never let down its consumers. It has created a new culture amongst people and is loved by its followers. People are ready to wait in lines for the merchandise, with due respect to the brand, and the brand also never lets them down with new and experimental styles.
They never advertised on massive platforms, and it was all primarily by word of mouth. The owner liked to keep it exclusive, and it grew to be one of the top fashion brands in just its first decade. They had to go through lawsuits for trademark and failed once, but once their genuinity was proved, it began running smoothly and got its fame effortlessly after that.