The French team owns 60% of the brand, while the creator holds the remainder of the capital.
The group announced on Tuesday that LVMH has reached an agreement with designer Virgil Apollo, one of the few black designers to star in a millennial star and a fashion house, to become the majority partner of its luxury streetwear brand Off-White.
“LVMH owns 60% of the brand and Mr. Aplo 40%”, which refers to the global luxury company that owns homes in Dior, Fendi or Givenchy.
The transaction is expected to be finalized within 60 days after regulatory approval. Was the artistic director of the men’s collection for American designer Louis Vuitton.
During Paris Fashion Week in January, she presented her collection for Louis Vuitton in the form of racism and anti-homosexuality.
“Speed up our pace”
Through this agreement, it is expanding its collaboration with the group, which is considering launching new brands “in different fields, beyond fashion” and with other brands.
The Italian group New Guards, which until now had the majority of off-white, will be the brand’s partner through its license agreement.
“For almost a decade, we have developed Off-White as a responsible brand to challenge the conditions of our generation.