LVMH Has Signed an Agreement With Off-White LLC and Is Looking Forward to the Partnership
LVMH Moët Hennessy Louis Vuitton is continuing to establish its relationship with Virgil Abloh. A new agreement with Off-White LLC will give the designer the opportunity to launch new brands and strengthen partnerships.
As part of the agreement, LVMH will increase its stake in Off-White LLC to 60 percent. Meanwhile, Abloh will hold a 40% stake and still will be the creative director of the label which he originated in 2014. The process will be completed within 60 days but other details of the deal were not revealed. But it seems like the duration of the contract between Abloh and Vuitton will be long.
The group is really looking forward to working together with Virgil to bring his unique style to the brand. The deal made up on Tuesday marks a new relationship between the creative director and LVMH who have been cooperating for a long time before.
Off-White manages 56 stores worldwide, and more of them are going to arrive. Abloh, in turn, raised 1 million dollars last year for a fund for black students. Now, the fashion designer is looking forward to the forthcoming project.