LVMH has announced that it is investing in Off-White as a majority shareholder
An agreement was announced in which LVMH will purchase a majority stake in Off-White LLC. According to a press release, LVMH will own 60 per cent of the trademark after the acquisition. Abloh will retain a 40 per cent stake and continue as creative director.
Virgil, 40-years-old, is a recognised talent in the fashion world and is the creative director of menswear on the Louis Vuitton label. In 2013 Virgil established the Off-White brand and it has been a massive success in the luxury streetwear fashion scene.
LVHM Group is no stranger to luxury and fashion, owning shares in brands such as LOWE, Fendi, Celine, Christian Dior, Kenzo, Marc Jacobs, and Louis Vuitton.
Furthermore, they own shares in Wine and Spirits, including Moët & Chandon, Krug, Veuve Clicquot, and Hennessy.
In addition to partnering on existing brands, both Virgil and LVHM have agreed to cooperate to launch new brands.
“We are thrilled to expand our successful partnership with Virgil. We have already had the privilege of witnessing Virgil’s exceptional creativity. And vision through his work with us at Louis Vuitton. 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.”Bernard Arnault, Chairman and Chief Executive Officer of LVMH
Subsequently, It is expected that LVMH will complete the investment in Off-WhiteTM within the next 60 days, subject to regulatory approval.
Now that they have shared this news we can not wait to see where the pair take the fashion industry!
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