Following the acquisition LVMH will own a 60 per cent interest in the trademark, whilst Virgil Abloh will retain a 40 per cent interest and continue as creative director of the brand, which he founded in 2013.
Virgil Abloh’s partnership with LVMH began in March 2018 when he was appointed as the Artistic Director of Louis Vuitton’s menswear collection, a role in which he will continue. LVMH and Abloh have also agreed to jointly pursue new projects across luxury categories. This agreement will leverage together the Group’s expertise to launch new brands and partner with existing ones in a variety of sectors beyond the realm of fashion.
Bernard Arnault, Chairman and Chief Executive Officer of LVMH, commented: “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.”
The transaction through which LVMH is investing in Off-White is subject to regulatory approval and is expected to be completed within the next 60 days.
