Off-White, the luxury fashion brand known for its iconic streetwear designs, has been making headlines recently due to changes in its ownership. Given the brand's popularity and influence in the fashion industry, many are curious about the latest updates on who owns Off-White now. In this article, we'll delve into the details and provide you with the latest information on Off-White's ownership.
The History of Off-White
Before we discuss Off-White's current ownership, let's briefly examine its history. Off-White was founded in 2012 by Virgil Abloh, a fashion designer and creative director known for his collaborations with Kanye West and his own brand, Pyrex Vision. The brand quickly gained popularity for its unique blend of high-end fashion and streetwear, with its signature diagonal stripes and quotation marks on its designs.
The Rise of Off-White
Off-White's popularity continued to grow, with collaborations with major brands such as Nike and Jimmy Choo, and partnerships with celebrities like Beyoncé and Rihanna. The brand's success also led to Abloh being appointed as the artistic director of Louis Vuitton's menswear in 2018, making him the first African-American to hold the position.
The Initial Ownership Structure
When Off-White was first founded, it was owned by Virgil Abloh and New Guards Group, an Italian fashion conglomerate. New Guards Group also owned other popular fashion brands such as Palm Angels and Heron Preston. Abloh held a 60% stake in Off-White, while New Guards Group held the remaining 40%.
The Latest Updates on Off-White's Ownership
In 2020, Off-White's ownership structure underwent significant changes, with the brand's ownership now being split between three major players in the fashion industry.
LVMH Acquires Majority Stake
In March 2020, luxury conglomerate LVMH (Louis Vuitton Moët Hennessy) announced that it had acquired a 60% stake in Off-White, with Virgil Abloh retaining a 40% stake. This move solidified LVMH's partnership with Abloh, who had been the artistic director of Louis Vuitton's menswear since 2018.
Farfetch Acquires New Guards Group
In the same month, online luxury fashion retailer Farfetch announced its acquisition of New Guards Group, the previous co-owner of Off-White. This acquisition gave Farfetch control over Off-White's production and distribution, as well as other brands under New Guards Group.
LVMH and Farfetch Partnership
In addition to acquiring a majority stake in Off-White, LVMH also entered into a strategic partnership with Farfetch. This partnership allows LVMH to leverage Farfetch's technology and e-commerce platform to enhance its online presence and reach a wider audience.
What Does This Mean for Off-White?
With these changes in ownership, what does this mean for Off-White as a brand? Here are some potential implications:
Increased Resources and Support
With LVMH's majority stake and partnership with Farfetch, Off-White now has access to more resources and support. This could mean increased production capabilities, wider distribution, and more opportunities for collaborations and partnerships.
Potential for Expansion
With the backing of LVMH and Farfetch, Off-White may have the potential to expand its brand and reach new markets. This could mean opening more physical stores, expanding its product line, or entering new regions.
Maintaining Creative Control
Despite the changes in ownership, Virgil Abloh will still retain a 40% stake in Off-White and continue to serve as the brand's creative director. This means that Abloh will still have a significant say in the brand's designs and direction.
Who Owns Off-White Now?
So, who owns Off-White now? Here's a breakdown of the current ownership structure:
- LVMH: 60%
- Virgil Abloh: 40%
With Farfetch's acquisition of New Guards Group, it is now the parent company of Off-White, but does not have a direct stake in the brand.
The Impact on the Fashion Industry
Off-White's changes in ownership have not only affected the brand itself but also the fashion industry as a whole. Here are some potential impacts:
Increased Competition
With LVMH's majority stake in Off-White, the brand now has the backing of one of the largest luxury conglomerates in the world. This could potentially increase competition for other luxury fashion brands, as Off-White may have more resources and support to expand and innovate.
Changes in Fashion Trends
Off-White's unique blend of high-end fashion and streetwear has been a major influence in the fashion industry. With the brand's changes in ownership, we may see shifts in fashion trends and styles as Off-White continues to evolve under the guidance of LVMH and Farfetch.
Potential for More Collaborations
With LVMH's partnership with Farfetch, we may see more collaborations between Off-White and other luxury brands under LVMH's umbrella. This could lead to exciting and innovative designs and products for consumers.
Conclusion
In conclusion, Off-White's changes in ownership have solidified its position as a major player in the fashion industry. With the backing of LVMH and Farfetch, the brand has the potential to expand and innovate, while still maintaining its unique identity under the creative direction of Virgil Abloh. As Off-White continues to evolve, we expect to see even more exciting developments from this iconic fashion brand.
