The marketing director of Supreme, Angelo Baque, is departing the brand after nearly ten years. He got his start at the company in 2006, when he met Supreme founder James Jebbia while working at a Stüssy store. At the time the company was small, with a staff of less than ten and a niche fan base. Over the following decade Baque played an instrumental role in building hype and making the Supreme logo iconic, ultimately leading to the recent Supreme X Louis Vuitton collaboration. Baque says he is leaving Supreme to focus on other projects. He has been working on the opening of his own creative agency and the expansion of his streetwear brand Awake. His fledgling brand has taken a page out of Supreme’s playbook, releasing limited capsule collections of hats and shirts.
The news came a day after rumors surfaced on social media and in the press that LVMH had bought Supreme for a staggering 0 million. To the relief of many of the streetwear brand’s devotees, LVMH quickly denied that they had acquired the company. However the speculation may be indicative of the luxury conglomerate investing in a different way. A few days ago the corporation’s CEO Bernard Arnault announced the establishment of a “Luxury Ventures” division. The newly created fund will seek out fashion companies that have potential for rapid growth and take between a 2 and 10 million dollar stake. This is a switch in strategies for Arnault, whose corporation has been buying up fashion houses across Europe for the past 15 years. It seems more likely that the source of the rumors is a plan to inject capital into Supreme. Perhaps the departure of Baque, the collaboration with LV, and the buyout rumors, are indicative of Supreme seeking to reach a wider range of customers and ramp up production beyond limited releases.END
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createdAt:Thu, 23 Mar 2017 20:39:48 +0000