This story was updated Sept. 30 at 5:24 p.m. EST
MILAN — LVMH has sold Off-White LLC, the company that owns the Off-White brand, to the New York-based Bluestar Alliance LLC.
Financial details of the deal were not disclosed.
The late Virgil Abloh founded Off-White in 2012.
“Virgil was a creative pioneer who had a profound impact on the global fashion industry and creative community. Acquiring Off-White represents a unique opportunity for Bluestar Alliance to honor and build upon the enduring legacy of Virgil Abloh,” said Joey Gabbay, chief executive officer of Bluestar Alliance.
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“His visionary approach to fashion resonates deeply with our core values. Abloh’s ability to fuse street culture with high fashion has laid a powerful foundation that aligns with our vision of fostering innovation while embracing diversity. The acquisition of Off-White, and the opportunity to provide strategic investment and build upon our global network of resources will allow for the continuation of the cultural and creative momentum that Virgil ignited, one that Bluestar Alliance is committed to carrying forward.”
Bluestar Alliance, founded by Gabbay and Ralph Gindi in 2006, owns, manages and markets a portfolio of consumer brands ranging from Hurley, Scotch & Soda and Bebe, to Elie Tahari, Kensie, Justice, Catherine Malandrino, Nanette Lepore, English Laundry, Brookstone, Joan Vass and Limited Too.
In a statement issued by LVMH on Monday evening, the group said it was “proud of the legacy that Off-White has built under Virgil Abloh’s visionary leadership. Bluestar Alliance is the perfect partner to carry that legacy forward. Bluestar Alliance shares our commitment to respect creative integrity, and we are confident that, under their stewardship, Off-White will continue to innovate while respecting the spirit and values of the brand.“
LVMH bought a majority stake in Off-White LLC in 2021. As part of that agreement, LVMH was to raise its stake in Off-White LLC to 60 percent, with Abloh retaining a 40 percent interest and continuing as creative director of the label.
The agreement strengthened the relationship between LVMH and Abloh, who was then the artistic director of menswear collections at Louis Vuitton, a post he had held since March 2018.
LVMH had previously held a minority stake in Off-White’s trademark entity.
Details about the future of the current art and image director Ibrahim “Ib” Kamara were not provided.
Kamara, who was named to the post in spring 2022, debuted the brand’s first New York fashion show in September. The show was staged on the waterfront community basketball courts of Brooklyn Bridge Park and amassed a stellar front row including Flavor Flav (with his special guests, Olympic water polo player Ashleigh Johnson), Camila Cabello, Leon Bridges, Suni Lee, Lena Waithe, Issa Rae, Aryna Sabalenka, Frances Tiafoe, Ayan Broomfield, Paris Jackson, Zayn Malik, Victoria Monét and Mary J. Blige.
Kamara succeeded Abloh, who died at the age of 41 in 2021. Monday, when the deal was announced, would have been his 44th birthday.
One of Abloh’s close collaborators, Kamara was born in Sierra Leone, taking refuge with relatives in The Gambia during the country’s 11-year civil war, before settling in London when he was 16.
Kamara is known for work that explores gender codes, queerness and Black identity, all themes that Abloh brought from the sidelines to the center of the luxury conversation. Born in Rockford, Ill., to Ghanaian immigrant parents, Abloh championed Black talent and created a scholarship fund for Black fashion students.
Kamara has been part of the Off-White family for years, styling the shows of the brand in addition to being the stylist of choice of many other fashion designers, ranging from Riccardo Tisci to Erdem Moralioglu. Before taking on the top job at Dazed, he produced editorials for the likes of i-D, System, Vogue Italia and Another magazine.
The first official fashion venture of Abloh, Off-White was launched online in late 2013, holding its first showroom presentation in Paris the following January with designs that merged influences ranging from Bauhaus to sports apparel and Caravaggio. It established the visual signature of the brand: thick diagonal stripes that have become a byword for insider cool.
The late Ghanaian American designer expanded the brand into womenswear within 18 months of its launch. In 2015, Off-White made it onto the short list of the LVMH Prize for Young Fashion Designers, crystallizing streetwear as a credible challenger to the luxury status quo, and cementing close ties to the French group.
Off-White has been licensed to New Guards Group, and helmed by CEO Cristiano Fagnani. Farfetch acquired New Guards Group, home to brands ranging from Palm Angels to Alanui, for $675 million in 2019. Coupang at the end of last year took control of Farfetch.
The deal comes during a busy few days for LVMH, which teamed with Remo Ruffini to increase his stake in Moncler on Thursday. Stanhope Capital acted as exclusive financial adviser to LVMH for the Off-White transaction.