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.