Louis Vuitton and Supreme recently debuted their much-discussed collaboration, which will be available in July at Louis Vuitton stores. But reports on Thursday suggested that the French label had made a move to purchase the New York City brand for $500 million.
According to New York Times fashion critic Vanessa Friedman, the rumors aren't true. "Before everyone gets too excited about @LVMH buying Supreme -- this is not true," Friedman wrote on Twitter.
A representative for Louis Vuitton declined to comment to The FADER, saying that the purchase was "based on a market rumor and the company doesn't comment on rumors or speculation of any kind."
A representative for Supreme was not immediately available for comment.