LVMH announced that it has sold Off-White LLC, the company that owns the Off-White brand, to Bluestar Alliance, LLC, a New York-based brand management company. Terms of the transaction are not being disclosed. Founded in 2012 by Virgil Abloh, Off-White is an international luxury streetwear brand. “Virgil was a creative pioneer who had a profound impact on the global fashion industry and creative community. Acquiring Off-White represents a unique opportunity for Bluestar Alliance to honor and build upon the enduring legacy of Virgil Abloh. His visionary approach to fashion resonates deeply with our core values. Abloh’s ability to fuse street culture with high fashion has laid a powerful foundation that aligns with our vision of fostering innovation while embracing diversity. The acquisition of Off-White, and the opportunity to provide strategic investment and build upon our global network of resources will allow for the continuation of the cultural and creative momentum that Virgil ignited, one that Bluestar Alliance is committed to carrying forward,” said Joey Gabbay, CEO of Bluestar Alliance.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LVMUY:
- Costco reports Q4 earnings beat, Cassava to settle SEC charges: Morning Buzz
- LVMH backs Moncler CEO to increase stake in the company, FT says
- LVMH downgraded to Neutral from Buy at BofA
- LVMH price target lowered to EUR 720 from EUR 790 at JPMorgan
- LVMH price target lowered to EUR 860 from EUR 915 at Barclays