LVMH Buys a Major Stake in Off-White of Virgil Abloh

Working with Abloh to grow existing and new brands beyond the LVMH’s fashion umbrella

LVMH, a renowned luxury brand just announced its plans to buy a 60% stake in Off-White by Virgil Abloh, setting up new grounds for a profitable relationship. However, this is not just a regular acquisition. After the deal, the influence of Virgil Abloh will also significantly expand.

 

Virgil Abloh : The LVMH-Off-White deal

This deal is expected to be completed in over a 60-day time after regulatory approval. With that, Virgil Abloh will still retain a 40% stake in the brand and remain the creative director. With that, Abloh will still remain the Artistic Director for Men at Louis Vuitton.

According to LVMH, the plans are to partner up with Virgil Abloh to collaborate with existing brands and to launch new ones in various sectors other than fashion.

 

Without a doubt, LVMH is one of the biggest fashion conglomerates in the world, with a controlling stake in many luxury brands. This deal will also make Virgil Abloh one of the most powerful black executives at LVMH.

Regarding the upcoming deal, Virgil Abloh said in a statement, “I’m incredibly excited to work together with LVMH on other possible collaborations—an evolution of the great relationship I have had with LVMH, Bernard Arnault, Michael Burke at Louis Vuitton and others.”

 

Virgil Abloh also mentioned his desire to help diverse individuals by expanding opportunities for them. He aims to improve inclusion and equity in the fashion industry. Regarding this, he further added, “This is an incredible new platform to take the disruption we’ve achieved together to a whole new level.”

Other brands that are currently associated with LVMH include Fendi, Louis Vuitton, Marc Jacobs, Givenchy, Christian Dior, Moet & Chandon, Bulgari, TAG Heuer, Tiffany & Co, Zenith, Hublot, Dom Perignon, Hennessy, and Belvedere.

 

As of now, LVMH has not disclosed the financial details. However, Virgin Abloh would certainly get a big chunk of money out of this deal. At this stage though, Michael Burke from LVMH has only stated, “We paid the right amount.”

 

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