Supreme sells stake to Carlyle Group

London - The founder of iconic streetwear brand Supreme, James Jebbia, has sold a stake in the company to private equity firm The Carlyle Group. Further details concerning the deal were not disclosed, but the private equity group is thought to have taken a minority stake in the skatewear inspired label, according to various media reports.

Supreme is likely to use the investment to speed up its expansion plans, which include launching in new international markets, such as China. The streetwear brand is believed to have sold a 50 percent stake in its business for approximately 500 million US dollars, which would value the company at 1.1 billion USD, 1 billion USD in equity and 100 million USD in debt, reports WWD. Sources indicate that details concerning the deal were kept tightly under wraps, as Supreme’s founder believed that if the sum was made public, it may damage the brand image he has been cultivating since the foundation of the brand.

Jebbia first launched Supreme in 1994 as a skate shop and has managed to create a strong cult following around the world due to its limited product launches and designer collaborations with the likes of Louis Vuitton, Comme des Garçons and Levi’s.

Photo: Supreme's 11th store in Brooklyn, courtesy of Supreme