LVMH has acquired a majority stake in the Off-White ™ brand from Virgil Abloh. According to the Financial Times, the French luxury company will increase its stake to 60 percent, while Abloh will keep 40 percent.
In addition to the acquisition, Abloh’s role at LVMH has expanded to include categories such as wine and spirits as well as hospitality. With this new deal, Abloh predicts that Off-White ™ will be viewed as a “true multi-line luxury brand” and announced that he plans to expand his branch network are alien to an industry or are alien to a country, and they are very hungry, they want to learn, want to be different in an industry that constantly requires new ideas. ”Louis Vuitton boss Michael Burke commented on Abloh’s new role. « We’re trying to disrupt a number of companies [at LVMH] so we thought this was the right time to take [our partnership with Virgil] to the next level. »
While LVMH will be responsible for the Off-White ™ brands, Farfetch-owned New Guards Group will continue its licensing agreement with the label.
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