On Friday, the news broke that Supreme sold a stake in the company to the Carlyle Group, an investment firm based in Washington, D.C. that was founded in 1987. Soon after, James Jebbia—who founded Supreme in 1994—confirmed the acquisition in an exclusive story published by BoF.
Today, Women’s Wear Daily reported that the $500-million stake from Carlyle now puts Supreme’s worth at $1 billion. To put this into perspective, Instagram was sold to Facebook for $1 billion in cash and stocks in 2012.
Supreme’s value has now hit the level of a tech company, which is a milestone to say the least.