Luxury conglomerate LVMH transfers ownership of Off-White brand to Bluestar Alliance.
In a significant move, LVMH has announced the sale of Off-White LLC, the company that owns the Off-White brand, to Bluestar Alliance, LLC. The acquisition was confirmed in a press release on Monday.
Off-White is a luxury streetwear brand founded by the late Virgil Abloh, who passed away in November 2021. His visionary approach to fashion, which fused street culture with high fashion, has left an indelible mark on the global fashion industry.
LVMH, who acquired a majority stake in Off-White in 2021, believes that Bluestar Alliance is the perfect partner to carry Off-White's legacy forward. The New York-based company owns, manages, and markets a portfolio of brands, including Hurley, Scotch & Soda, Catherine Malandrino, Nanette Lepore, and Limited Too.
Joey Gabbay, CEO of Bluestar Alliance, expressed his admiration for Abloh's impact on the fashion industry and creative community. He views the acquisition as a chance to honor and build upon Abloh's enduring legacy.
For Bluestar Alliance, the acquisition represents a unique opportunity to continue the brand's innovative and diverse approach to fashion. They are committed to maintaining Off-White's commitment to pushing boundaries and challenging conventions.
LVMH is proud of the legacy that Off-White has built under Abloh's visionary leadership. They believe that Bluestar Alliance will be able to carry this legacy forward and continue to make a significant impact in the fashion world.
The financial terms of the transaction remain undisclosed. However, both parties are excited about the potential this partnership holds for the future of Off-White.
As Off-White enters this new chapter, it is clear that Abloh's influence will continue to be felt. His groundbreaking work has set the stage for a new generation of designers to explore and redefine the intersection of streetwear and luxury fashion.
