Supreme, the skateboard apparel manufacturer, sold an approximately 50 percent stake in the company to private-equity firm Carlyle Group LP for about $500 million.
The funding reportedly values the streetwear specialist at nearly $1 billion.
The news was first reported by Women’s Wear Daily and confirmed by the Wall Street Journal.
Founded in 1994, Supreme has 11 stores but is known for its collaborations with The North Face, Nike, Vans and a number of contemporary artists sold in limited-edition capsules that quickly sell out.
Photo courtesy Supreme
