In a major show of confidence, LVMH Moët Hennessy Louis Vuitton is bolstering its relationship with Virgil Abloh with a deal that will give the designer leeway to launch brands and seal partnerships across the full range of the luxury conglomerate’s activities, beyond just the fashion division.
As part of the agreement, LVMH will raise its stake in Off-White LLC, the trademark owner of Abloh’s Off-White brand, to 60 percent. Abloh will retain a 40 percent interest and continue as creative director of the label, which he founded in 2014. Financial terms of the deal were not disclosed.
Italian holding company New Guards Group will stay on as the licensee for Off-White. Meanwhile, Abloh will remain artistic director of men’s wear collections at Louis Vuitton, a post he has held since March 2018, both parties said in a joint statement on Tuesday.
Bernard Arnault, chairman and chief executive officer of LVMH, said the group was “thrilled” to expand its partnership with the 40-year-old American designer, who is known for his wide-ranging collaborations with brands including Nike, Mercedes-Benz, Evian, Ikea, Vitra and Braun, among others.
“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,” Arnault said in the statement.