LVMH has recently announced that it is about to acquire a majority stake in Off-White.
The goal seems to be to expand its role within the luxury brand in an attempt to attract as many young customers as possible. While the founder of the label, Virgil Abloh, and artistic director of the Louis Vuitton men’s collection, will keep a 40% stake, LVMH will get a 60% one.
The growth of the Off-White brand in recent years and its success as a luxury streetwear brand is indisputable. We just think of the countless collaborations with different brands: from Nike, to Jimmy Choo to Byredo. It has been revealed that LVMH’s goal will be to work closely with Virgil Abloh to launch new brands and grow his portfolio more and more. It will not be just about fashion, clothing but will try to expand to new categories and sectors, such as wine, spirits, hotels.
Virgil Abloh has indeed stated that this agreement will allow Off-White to become a ” luxury multi-line brand ‘, which will further develop categories such as leather goods, cosmetics and household items and that also the expansion of Off-White’s network of 58 stores Off-White would be one of the “key objectives“.
So will this be the key to taking the Off-White brand to the next level? For now it is just an announcement, let’s see what the effect of this acquisition will be in the fashion world.
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