LVMH acquires majority stake in Off-White brand from Virgil Abloh – .

LVMH acquires majority stake in Off-White brand from Virgil Abloh – .

Although Off-White, the company, is still operated by New Guards Group, the Italian manufacturing company that licenses the brand (and is itself owned by Farfetch), Off-White LLC, which owns the brand. , will be incorporated into the LVMH Fashion and Leather Goods Group. Terms of the deal were not disclosed, although Mr Burke said “it took about five minutes to reach a deal.”

LVMH is used to acquiring or buying a minority stake in the personal brands of the creators it hires to work with its heritage labels. It’s a model he developed with John Galliano when he was creative director of Dior (when he was fired, he also lost his rights to his name); Marc Jacobs, whose brand is still part of LVMH; and JW Anderson, Loewe’s Creative Director.

Yet, according to Mr. Burke, Off-White is the largest brand of its kind ever acquired by LVMH, with 56 stores worldwide and a presence in 40 countries.

Mr Abloh said he hoped the deal would ensure Off-White will be “in historic corners around the world for years to come”. He also said the partnership would be used to expand Off-White into categories such as cosmetics and housewares, as well as to expand the leather goods side of the business.

Mr. Abloh, who has an engineering degree and no formal training in fashion (his mother, a dressmaker, taught him to sew), began his relationship with LVMH in 2007 when he was Creative Director for Kanye West and the two interns at Fendi, the Italian brand. In 2015, he was a finalist for the LVMH Young Designers Award, and in 2018, he was named Louis Vuitton men’s clothing designer.


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