On the flip side, lacking strong social connections can pose a serious risk to your mental and emotional health. Being socially connected to others can ease stress, anxiety, and depression, boost self-worth, provide comfort and joy, prevent loneliness, and even add years to your life. We need the companionship of others to thrive in life, and the strength of our connections has a huge impact on our mental health and happiness. The role social media plays in mental health
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Here’s how to modify your habits and improve your mood. More practically, LVMH just closed a record-breaking deal with Tiffany two weeks ago, acquiring the American jewelry brand for $15.8 billion.Teen issues Social Media and Mental Health While many of us enjoy staying connected on social media, excessive use can fuel feelings of anxiety, depression, isolation, and FOMO. (To be fair, Supreme has always kept the prices of its T-shirts below $100, while many LVMH brands sell T-shirts for upwards of $400.) Why did VF win out? Perhaps because LVMH, unlike VF, does not need to pay a premium for Supreme’s cool factor-indeed, the surprise of luxury-streetwear collaborations, which LVMH would bring to the table in a Supreme acquisition, has arguably been exhausted. In selling to VF for four times that amount, “Supreme’s ownership chose mass distribution over remaining a veblen good” (a luxury product whose demand increases as price increases), tweeted media and commerce consultant Web Smith.
In February 2017, a number of streetwear outlets speculated that the French conglomerate had bought Supreme for $500 million shortly after Louis Vuitton, then helmed by Kim Jones, collaborated with the brand for its Fall 2018 collection. Rumblings about a Supreme sale have circulated for almost four years, including rumors that LVMH might acquire the brand. At the risk of sounding cynical, this deal will probably seem like just another spunky collab. And Supreme fans are already accustomed to unorthodox pairings with unfamiliar or even suspiciously corporate partners, like Post-Its, the fire safety manufacturing company Kidde, and the New York Post. There was very little fracas over the Carlyle investment, despite the private equity group’s previous ownership of a minority stake in Combined Systems, Inc., a manufacturer of military and police equipment including tear gas. When they do dissent against big brands, it tends to be over issues of sustainability or human rights-not amorphous coolness or independence. More broadly, just as legions of high fashion customers around the world obsess over LVMH and Kering megabrands with little awareness of who the current creative directors are, Supreme’s millennial and Gen Z customers are unabashed in their devotion to the red label. In 2022, the press release notes, Supreme is expected to add at least $500 million in revenue to VF’s bottom line. Shifts to the distribution model, like beginning to sell Supreme at other retailers beyond just the similarly cool Dover Street Market, seem unlikely VF’s press release touts Supreme’s direct-to-consumer sales model and reliance on its web store, which generates 60% of its revenue. Supreme founder James Jebbia and his team will remain in situ once the deal goes through by the end of this year, meaning that the brain trust that steered the early ’90s Lafayette Street skate shop to a position of global fashion domination will continue as decision-makers. Supreme is unlikely to feel any internal cultural aftershocks from the sale, at least in the short term. You may recall that Carlyle paid $500 million for a 50% stake in Supreme back in 2017 as one writer has already joked, this makes The Carlyle Group the world’s most successful Supreme reseller.
Supreme’s current investors, The Carlyle Group and Goode Partners, will sell their stakes. Denver-based VF Corporation, which owns Supreme collaborators like The North Face, Timberland, and Vans, as well as workwear brands like Dickies and Napapijri, announced this morning that it will acquire Supreme for $2.1 billion.
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