THE WHAT? LVMH has become a majority investor in Virgil Abloh’s Off White label, having jointly agreed to pursue new projects across luxury categories.
THE DETAILS Entering into a definitive agreement, LVMH will own 60 per cent in the trademark, with Abloh retaining a 40 percent stake and remaining Creating Director of the brand.
Abloh will also be given a bigger role within the company, helping to create new brands and evolve into new business sectors.
Having agreed to join forces, LVMH said in a press release, “It 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. Initial discussions have already begun.”
THE WHY? Abloh’s popularity with a Gen Z and Millennial audience allows LVMH to access a new target audience, with the extended partnership highlighting the company’s aim to capture a younger consumer.