[black fashion designers]Virgil Abloh Sells Off-White to LVMH, Deepening Ties With Luxury Conglomerate
PARIS—LVMH M?et Hennessy Louis Vuitton SE is taking a 60% stake in Off-White, the brand founded by American designer Virgil Abloh, deepening the French conglomerate’s ties to a leading proponent of hip hop and streetwear in luxury fashion.
Mr. Abloh, 40 years old, is already the creative director of menswear for Louis Vuitton, LVMH’s core brand and the world’s top-selling luxury fashion label. In addition to taking the stake in Off-White, LVMH said it and Mr. Abloh would collaborate on other products beyond luxury fashion.
The partnership comes as the luxury industry embraces prominent Black artists, designers and hip-hop stars, seeking the cultural clout that can draw younger shoppers to their brands. Mr. Abloh is perhaps the most prominent Black executive in luxury fashion.
He is one of the few Black creative directors of a major European fashion house, alongside Olivier Rousteing at Balmain. That comes in addition to his work as a DJ, industrial designer and visual artist, including exhibitions at London’s Tate Modern and the Museum of Contemporary Art Chicago.
Under the deal announced Tuesday, LVMH will take a 60% in the Off-White trademark, with Mr. Abloh keeping the other 40%. Financial terms weren’t disclosed.