“For nearly a decade, we have been building Off-White to be a brand capable of representing our generation and challenging the status quo. Now it will be able to evolve thanks to the firepower of LVMH. ” These are the words of Virgil Abloh.
Since 2012, Off-White has established itself as one of the most influential brands in the streetwear and luxury sectors. It was defined by the New York Times, as the largest brand ever purchased by LVMH with 56 stores in more than 40 countries.
“I am thrilled to expand our successful partnership with Virgil. We have already had the privilege of witnessing his exceptional creativity and vision through his work with us at Louis Vuitton, and we look forward to supporting Off-White’s growth.” Reiterated Bernard Arnault, president, and chief executive officer of LVMH.
The acquisition of the majority shares will allow the Milan-based to continue its expansion not only in the field of ready-to-wear. Categories such as those of cosmetics and household products seem more and more to appeal to the group. So much so that after overcoming the pandemic with positive results, LVMH shares rose 28% in the first quarter of the year. The second-quarter data will be released at the end of this week.