Sumary of Virgil Abloh Got a Powerful New Gig The Off-White founder got a seat at the LVMH table.:
- Photo: Getty Images On Tuesday, the most powerful luxury-goods conglomerate in the world announced that it is giving a seat to one of the most prominent Black designers and executives in fashion.
- LVMH is becoming a majority investor in Off-White, the high-end streetwear brand founded by Virgil Abloh in 2013 in Milan.
- As part of the agreement, LVMH is purchasing a majority stake of 60 percent in Off-White LLC, the trademark owner of Abloh’s Off-White brand.
- Milanese company New Guards Group, which is owned by Farfetch, will continue to operate the business since it owns the license for the brand.
- Meanwhile, Abloh will retain a 40 percent ownership and will also continue as creative director at Off-White, as well as at Louis Vuitton as artistic director of the French fashion house’s menswear collections.