VF is paying $2.1 billion to buy Supreme the Street where apparel company with a cult like following private equity firms Carlyle Group and Good Partners, are selling their stakes in the company behind the cool brand.

The proceeds scarcity of Supremes products ranging from hoodies to burner phones has made them extremely popular among the young Street, where fans known as height beasts.

And that gives the company pricing power that juices up its profit margins.

Known for its red box logo is products sell out in minutes after their launch and people wait in line for hours outside it's 12 stores worldwide.

Founded in 1994 in downtown Manhattan, Supreme became the home of New York City skate culture.

Many of its fans snap up Supremes clothing online.

That sales channel accounts for more than 3/5 of its revenue.