LVMH just announced that they are set to buy 60% of the Off-White trademark. Here’s what we can expect.
Just yesterday, luxury conglomerate LVMH has announced that they will be a majority stakeholder in Off-White. Founded by Virgil Abloh, the only 7 year old brand Off-White has been a success since its first collection was launched in Paris in 2014. What could this move from LVMH mean for Virgil Abloh and his luxury streetwear label?
LVMH has agreed to buy 60% of the Off-White LLC, the owner of the Off-White trademark; while Virgil Abloh retains the remaining 40%. He sets to keep his role as the Off-White’s creative director, and New Guards Group—the company that launched Off-White with Abloh—will remain as the brand’s operating partner.
This major move from LVMH adds another layer to their partnership with Abloh, who is has been the artistic director for Louis Vuitton’s menswear since 2018. “LVMH and Virgil Abloh have agreed to jointly pursue new projects across luxury categories,” shares LVMH.
More brands and other luxurious offerings from LVMH and Abloh may also be in the works in the future. Bernard Arnault, Chairman and CEO of LVMH shares, “We look forward to supporting Virgil and the team both in driving the growth of Off-White and in working together with Virgil to bring his unique sensibility to a broader range of luxury categories.”
For Abloh, this partnership would help turn Off-White into “a truly multi-line luxury brand.” As well as bringing focus to diversity in the fashion industry. “I am also honoured to use this partnership to deepen my longstanding commitment to expand opportunities for diverse individuals and foster greater equity and inclusion in the industries we serve.” He added, “This is an incredible new platform to take the disruption we’ve achieved together to a whole new level.”