The past decade has seen Virgil Abloh‘s stock skyrocket through his endeavours with his own brand, OFF-WHITE, known for hallmark branding and bold design sensibilities, and more recently through his appointment as creative director of Louis Vuitton. LVMH, mother company of brands such as Louis Vuitton and CELINE, just announced an acquisition of a majority share in the OFF-WHITE label, marking a massive milestone for Virgil, his brand, and the powerhouse luxury fashion group.
Virgil will retain a 40% stake in the brand, as well as his position as creative director, while LVMH, the biggest luxury group in the world, will take 60%. His role at LV is also set to progress to new levels, moving up “to launch new brands and partner with existing ones in a variety of sectors beyond the realm of fashion”. As for Virgil’s reasoning for the sale, he says LVMH will facilitate OFF-WHITE’S ascension to a “truly multi-line luxury brand”, a goal the designer has pursued for the entirety of the project.
Not only is this a monumental moment for the fashion world in terms of logistics, but it is also a step forward with regards to diversity in the luxury fashion group; it is only fitting that Virgil’s OFF-WHITE, being the most prominent black-owned brand in the world, is the first black-owned acquisition in LVMH’s extended history. No doubt does this mean Virgil’s reign of dominance over the industry is cemented into place, but it also continues to blur the lines between streetwear and luxury fashion.
