The brand that was smart enough to slap its name on a brick and convince people they needed to buy it may be worth a billion dollars.
That estimate comes from Women's Wear Daily, who reported Monday that the Carlyle Group's recent purchase of a stake in the streetwear giant was worth $500 million. Carlyle's deal with Supreme was reportedly a 50 percent agreement, meaning the brand—if these reports are confirmed—boasts a market value of roughly $1 billion dollars.
For those interested in reading about other companies in the billions business, the Wall Street Journal's frequently updated Billion Dollar Club ranking project currently shows that only 168 companies have hit the billion-dollar mark. As of September of this year, other companies at or just above $1 billion valuations included Global Fashion Group, Eventbrite, Draftkings, Vox Media, and Kik Interactive.
Supreme recently opened a new shop in Brooklyn, New York. The latest physical Supreme location's interior design has much in common with the brand's L.A. shop, including a massive skate bowl. Monday, Supreme dropped the Brooklyn box logo T-shirt online to help raise money for Puerto Rico's hurricane recovery efforts. The shirt quickly sold out, but keep an eye on the product page for potential restocks.
The Supreme logo is currently on display at the Museum of Modern Art as part if just-launched fashion exhibit Items: Is Fashion Modern. The Supreme box logo is projected onto a white t-shirt, joining more than 100 other pieces including Converse All Stars, a Colin Kaepernick jersey, a vintage Rolex, and a custom mask made from a pair of Yeezy 350 V2s.