Rumors: LVMH to Purchase Supreme
New collaborations happen all the time and as seen with high fashion companies lately, they are highly eager to get to the streetwear market on some level. High fashion companies getting anywhere within reach of the streetwear world would mean one thing, reaching the millennials. The demographic that has marketing firms burning the midnight oil in trying to figure out what makes these kids tick.
With this latest collaboration of SUPREME x Louis Vuitton, heads have been scratching, wondering, why ever would Louis Vuitton ever need to reach out to Supreme? To gain notoriety? Find a new audience? Or, has Louis Vuitton’s parent company, LVMH really acquired the company for $500 million as rumored.
If any of you follow the business of fashion, you would know that as of last year, many luxury fashion brands have suffered a significant down turn in sales. According to Business of Fashion, Louis Vuitton suffered a whopping 73% decline in sales (in their retail stores). It is also rumored, that the down turn can be contributed to the slow down of sales in places like Hong Kong and Brexit.
Now, for you non-believers out there, lets briefly break down some of LVMH’s companies: Kenzo, Givenchy, Fendi and Dior, to name a few. Any one of these would be a great collaboration project with Supreme. The acquisition of Supreme would allow LVMH to experiment in ways like never before, hike up prices, create a spectacle and done. This of course, all being needed when Supreme appears to be hotter than ever and Louis Vuitton, slowly losing control of a market that they once unquestioningly dominated.
Is this the beginning or end of the Supreme Reign? We shall see.