French luxury conglomerate LVMH will own 60% of the premium streetwear brand Off White, founded by American designer Virgil Abloh. The remaining 40% will remain with Abloh, who will continue to work at Off White as Creative Director.
In addition to developing Off White, Virgil Abloh has been the creative director of the menswear line of the French luxury brand Louis Vuitton (part of LVMH) since March 2018. The deal will strengthen the relationship between Abloh and LVMH as the luxury conglomerate plans to use the designer in launching new brands and developing projects within the company. LVMH CEO Bernard Arnault, commenting on the acquisition of a stake in Off White, noted Virgil's “exceptional creativity and vision”. Milan fashion brand Off White was founded in 2013.