Prof G Markets
Why is Silicon Valley Backing Trump? + A Glasses Company Acquires Supreme
Jul 22, 2024
Silicon Valley's surprising support for Trump raises eyebrows as tech elites flaunt their wealth in political donations. One host humorously notes, "I don't recognize America anymore!" The discussion shifts to luxury when EssilorLuxottica’s bold acquisition of Supreme for $1.5 billion is analyzed, highlighting the merger of optics and streetwear. Humor and economic insights blend as they delve into the implications of such a move and the surprising dynamics of corporate power and influence in today's market.
42:24
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Quick takeaways
- Luxottica's acquisition of Supreme aims to diversify offerings and distribution channels, leveraging the streetwear brand's customer base.
- Luxottica's potential investment in Meta reflects a strategic move towards developing AR/VR-enabled glasses, aligning with the evolving tech landscape.
Deep dives
Luxottica Acquires Supreme: A Strategic Move
Luxottica's acquisition of Supreme for $1.5 billion, despite a 30% decrease from its earlier sale price, is seen as a strategic move to expand customer base. While some analysts question the synergy between an eyewear company and a streetwear brand, Luxottica aims to leverage Supreme's customer base and explore licensing opportunities. The acquisition hints at Luxottica's potential shift towards a conglomerate model, similar to fashion giants like LVMH, to diversify its offerings and distribution channels.
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