LVMH has sold the luxury streetwear brand Off-White to brand management company Bluestar Alliance. Financial details were not disclosed.
LVMH took a majority stake in the label in 2021, agreeing to increase its stake over time to 60%, with brand founder Virgil Abloh retaining the remaining 40%. At the time, Abloh also was the artistic director of menswear collections at Louis Vuitton, a position he held until he passed away in November 2021, just four months after the sale of Off-White. The label is known for offering a global perspective on design and trends with collections that are embedded in a recurrent backstory. The announcement of the sale to Bluestar was made on what would have been Abloh’s 44th birthday.
“Virgil was a creative pioneer who had a profound impact on the global fashion industry and creative community,” said Joey Gabbay, CEO of Bluestar Alliance in a statement. “Acquiring Off-White represents a unique opportunity for Bluestar Alliance to honor and build upon the enduring legacy of Virgil Abloh. 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.”
Off-White now joins Bluestar’s wide roster of brands, which include Scotch & Soda, Bebe, Elie Tahari, Justice, Nanette Lepore, English Laundry, Brookstone and Limited Too.
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“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,” added Gabbay.
LVMH said in a statement that it is “proud of the legacy that Off-White has built under Virgil Abloh’s visionary leadership,” adding that Bluestar “is the perfect partner to carry that legacy forward. Bluestar Alliance shares our commitment to respect creative integrity, and we are confident that, under their stewardship, Off-White will continue to innovate while respecting the spirit and values of the brand.”
