LVMH, the French retail conglomerate, is reportedly planning to buy majority stake in Off-White – a label that was launched by renowned designer Virgil Abloh last decade.
While announcing the same through a media statement, it was made distinct that LVMH will own 60 per cent interest in the trademark, and Virgil Abloh will retain the remaining 40 per cent.
Virgil Abloh will also continue as the creative director of Off-White LLC.
Notably, the deal is subject to regulatory approval and, in all likelihood, will conclude in next 60 days.
Meanwhile Virgil Abloh will continue in his role as Artistic Director of Louis Vuitton’s menswear collection.
The deal will not only strengthen LVMH’s financial relationship with Off-White, but will also help further the designer’s role across the luxury fashion house.
Besides launching new brands, Virgil Abloh is expected to partner with existing ones too – that even goes beyond fashion. However, LVMH hasn’t disclosed much on the same.
Importantly, New Guards Group, which is an Italy-based Holding firm, will remain an operating partner for Off-White through its licensing agreement.
Known majorly for its clothes and shoes, Off-White has partnered with fashion giants such as Levi’s and Nike, amongst others.
Stay connected for more on the same!