lvmh to acquire majority stake in virgil ablohs off white label

LVMH to acquire majority stake in Virgil Abloh’s Off-White label

Sumary of LVMH to acquire majority stake in Virgil Abloh’s Off-White label:

  • LVMH is adding Off-White to its portfolio of brands after the French luxury house agreed on Tuesday to take a 60 percent stake in Off-White LLC.
  • While terms of the deal were not disclosed, LVMH and Abloh will be looking to develop and launch new brands, likely in the luxury streetwear fashion space.
  • “It’s more like what Bernard Arnault did when he bought Dior and decided to create a federation of luxury brands.
  • The company made history when in 2018 it named Abloh the artistic director of Louis Vuitton menswear, making him the first-ever Black designer to lead a French luxury brand.

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