VF Stock Soars as Company Sells Supreme Brand to Ray-Ban Owner EssilorLuxottica

Key TakeawaysVF Corporation sold its Supreme streetwear brand to French eyeglass retailer EssilorLuxottica for $1.5 billion.VF CEO Bracken Darrell said the company's strategic portfolio review determined that selling Supreme was logical.The parent of Vans and North Face brands has been attempting a turnaround as it faced falling demand and too much inventory. VF Corporation (VFC) shares soared Wednesday after the struggling clothing retailer announced that Paris-based retailer EssilorLuxottica purchased it ...