LVMH Acquires Majority Stake In Off-White™ Brand
Promising to work with Virgil Abloh to grow existing and new brands beyond the fashion umbrella.
LVMH has agreed to purchase a majority stake in Off-White LLC, the owner of Virgil Abloh‘s Off-White™ streetwear brand.
Abloh, who founded the brand, will retain 40 percent ownership in the company following the deal. The designer is set to keep his overarching creative director role for the brand, while New Guards Group who birthed Off-White™ with Abloh will still be the brand’s operating partner.
Reports stated that with a 60 percent stake, LVMH plans to work alongside Abloh to develop, create and grow new and existing brands that go beyond the fashion realm. With a partner like LVMH, Off-White™ will have a slew of tools readily available to help it expand its own brand portfolio. The French luxury conglomerate has an extensive and broad range of investments in fashion, cosmetics, jewellery, fragrances and even wines and spirits. The announcement does not affect Virgil Abloh’s role at Louis Vuitton, where he is currently still the artistic director of the menswear line.
Further details regarding the deal have yet to be disclosed.
In other fashion news, Anti Social Social Club just dropped its FW21 collection.
