By Inside Retail Asia
Off-White’s founder, Virgil Abloh, is to sell a majority stake of his Off-White label to LVMH Group.
The US designer, entrepreneur, and DJ – who has held the role of artistic director of Louis Vuitton’s menswear for three years – has committed to work with LVMH on new luxury fashion projects across multiple categories.
Abloh founded Milan-based Off-White in 2012. Under the sale agreement, LVMH will hold a 60-per-cent interest in the trademark, while Abloh will retain the balance and remain as its creative director.
Expected to be completed within the next 60 days, the value of acquisition has not yet been disclosed.
READ full story HERE.