By  on October 13, 2017

James Jebbia’s fabulously successful skate brand Supreme is all about downtown cool and credibility, but it needed a shot of luxe cachet to nab a $1 billion valuation in its deal with private equity giant Carlyle.

Jebbia raised Supreme’s profile considerably with the Louis Vuitton collaboration this summer, which sources said drummed up 100 million euros in business for the pair, could have sold much more and gave the skate brand just the high-end sheen it needed. (Supreme and Louis Vuitton did not immediately respond on Thursday to WWD queries on sales of the collaboration. Carlyle declined to comment.)

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