LVMH to Acquire Majority Stake in Off-White
20 Luglio 2021 - 7:45AM
Dow Jones News
By Cecilia Butini
LVMH Moet Hennessy Louis Vuitton SE said Tuesday that it has
entered into an agreement with Virgil Abloh to buy a majority stake
in Off-White LLC, the company behind the fashion brand of the same
name.
As a result of the acquisition, LVMH will own a 60% interest in
the company, while Mr. Abloh, who founded the brand in 2013, will
retain a 40% interest and continue to be the creative director of
the brand, the company said.
The transaction is expected to close within the next 60 days
pending regulatory approval, the company said.
The French luxury-goods conglomerate also said it has agreed to
another partnership with Mr. Abloh, which will include the
launching of new brands.
Mr. Abloh is currently artistic director of Louis Vuitton's
menswear collection and will also continue in that role, the
company said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
July 20, 2021 01:43 ET (05:43 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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