The Luxury Group Announces Plans to Expand Its Partnership with Virgil Abloh Giving The Design Talent A Seat At The Table
LVMH has announced that it will acquire a 60 percent stake in Off-White. The brand’s founder and leader, Virgil Abloh, will retain a 40 percent stake and continue in his role as creative director. Farfetch-owned New Guards Group, the Milan-based fashion group which partnered with Abloh to found the brand in 2013, will continue to operate the label including production, marketing, and distribution through a licensing agreement that’s set to last until at least 2026.
We are thrilled to expand our successful partnership with Virgil. We have already had the privilege of witnessingVirgil’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
The resources and connections offered by LVMH give Abloh an exciting opportunity to continue to grow the Off-White brand, which itself has garnered a healthy following, and expand it across more lines and channels. The designer has already had a close and fruitful relationship with the luxury group, having worked as Men’s Artistic Director of Louis Vuitton since 2018.
The investment allows Abloh to take on a bigger role within LVMH, working across such categories as Wine and Spirits (LVMH owns 30 brands including Krug, Moët & Chandon, Dom Pérignon, and Hennessy) and Hospitality (more than 50 hotels, including the Cipriani in Venice).
Louis Vuitton was also one of the first backers of Abloh’s Postmodern Scholarship Fund to support Black students and promote diversity in fashion, and currently three beneficiaries of the scholarship are interning at the house. A first generation Ghanaian-American, Abloh is the first Black American to hold the position of artistic director at a French luxury house. With his new appointment, the designer will have an even wider opportunity to change the old face of luxury fashion and champion diversity and inclusivity.
Along with the acquisition of Off-White, LVMH and Abloh will further expand their creative partnership, with plans to launch new brands and reenergize existing ones both within and beyond LVMH’s fashion holdings.
For nearly a decade, we’ve been building Off-Whiteto be a brand designed to empower our generation and challenge the status quo. LVMH brings to the table the additional firepower and scale to accelerate our momentum and evolve Off-White into a truly multi-line luxury brand.
– Virgil Abloh, Chief Creative Director and Founder of Off-White
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