Streetwear brands were acquired by conglomerates at massive valuations

Evidence

In 2017, Supreme sold 50 percent of its shares to private equity firm the Carlyle Group for 500 million. Three years later, VF Corporation—owner of the North Face, Timberland, Dickies, and Vans—acquired Supreme for 2.1 billion. … By 2023, even McDonald’s had joined the fray, teaming up with Palace, Vetements, and rapper Travis Scott’s Cactus Jack label. — W. David Marx, Blank Space, 767

Categorization

• XREF: Concrete data on the corporate absorption of counterculture — the mechanism behind the ‘collapse of subcultural difference’ the reader is tracking across the book.