The landscape of streetwear has just experienced a seismic shift. The VF Corporation, which currently owns and operates brands including Vans, Dickes, Timberland and The North Face have added streetwear authority Supreme to their portfolio.

The deal is said to come with a walloping price tag of 2.1 billion dollars. As reported by Hypebeast, the deal will close by the end of the fiscal year and means that private equity firms The Carlyle and Goode Partners will be selling off their stake in the brand. Back in 2017 when the first first invested, it marked the very first time that such a move took place in the world of streetwear.

As for the future of such an influential brand that is revered for its fierce independence, just what does the major corporate merger mean? According to the brand's founder James Jebbia, Supreme will maintain the creative direction as they always have. “We are proud to join VF, a world-class company that is home to great brands we’ve worked with for years, including The North Face, Vans, and Timberland. This partnership will maintain our unique culture and independence, while allowing us to grow on the same path we’ve been on since 1994.”