LVMH Transfers Ownership of Off-White to Bluestar Alliance
LVMH Moët Hennessy Louis Vuitton has announced the sale of Off-White, the luxury streetwear brand founded by the late designer Virgil Abloh, to New York-based brand management firm Bluestar Alliance.
The terms of the transaction, which was disclosed on Monday, have not been made public.
LVMH previously acquired a 60% stake in Off-White in July 2021, with Abloh retaining the remaining 40% until his passing later that year. Founded in 2012, Off-White gained significant acclaim under Abloh’s creative direction, blending high fashion with streetwear aesthetics.
In a statement, LVMH expressed pride in Off-White’s legacy, highlighting Abloh’s visionary leadership. The company noted that Bluestar Alliance would be well-positioned to continue that legacy, as they share a commitment to creative integrity.
Bluestar Alliance CEO Joey Gabbay emphasized the opportunity to honor Abloh’s impact on the fashion industry through this acquisition. He noted that the move would enable the brand to maintain the cultural and creative momentum initiated by Abloh.
The transition comes at a time when Off-White has faced challenges in the luxury market, particularly after the designer’s death. While LVMH’s acquisition of a controlling stake was initially seen as a strategic move to diversify its audience, the brand has struggled to maintain demand amid shifting consumer preferences.
The brand’s operational framework became more complex after LVMH acquired the trademarks for Off-White while simultaneously holding a minority stake in the brand’s operating company. A licensing agreement with New Guards Group, owned by the online retailer Farfetch, will be up for renegotiation next year.
Despite the hurdles, Off-White has recently made efforts to rejuvenate its brand, including a debut at New York Fashion Week and a partnership with the women’s NBA team New York Liberty.
