Supreme began in New York City in 1994 as a small, local skate shop. It was owned by a guy called James Jebbia, and the shop mostly sold T-shirts. A few days ago, Supreme sold to VF Corp, which is the parent company of Vans and Dickies, for a cool $2.1 billion.

Skateboarders primarily associate Supreme with a bunch of New York videos made by William Strobeck – vids like Cherry and Blessed. But the brand has well and truly transcended skateboarding, becoming an internationally renowned cult fashion label and collaborating with companies like Louis Vuitton, Nike and The North Face.

Back in 2017, Supreme actually sold a 50 per cent stake to a private investment company called The Carlyle Group for $500 million, which meant it was then valued at $1 billion. So to sell now for $2.1 billion, just three years later, is a pretty tidy profit by anyone’s standards.

In a statement, James Jebbia said “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.”