As the world's largest luxury goods group, in addition to Louis Vuitton, LVMH also owns countless well-known luxury brands such as Dior, Bvlgari, Givenchy and so on.
Recently, the LVMH group has added a new general and acquired a majority stake in Virgil Abloh's personal brand OFF-WHITE. After the transaction is completed, LVMH will hold 60% of OFF-WHITE's shares, and Virgil Abloh will hold the remaining 40%.
Virgil Abloh, the current creative director of Louis Vuitton menswear, can be said to be one of the most influential designers in the fashion field. Not only has he succeeded in rejuvenating the brand after joining Louis Vuitton, the personally founded OFF-WHITE has also developed extremely fast.
According to related reports, the development of OFF-WHITE since its inception in 2013 is terrifying. The most obvious point is sales, which rose from 2.6 million euros in 2014 to 56.5 million euros in 2017, which is 21 times in just 4 years. growth of.
The subsequent successful co-branding with brands such as Nike, Rimowa and Ikea further expanded the influence of OFF-WHITE. As of last year, the valuation of New Guards Group, the parent company of OFF-WHITE, has reached US$700 million.
For this acquisition, Virgil himself expressed his interest in these businesses: "This acquisition will enable OFF-WHITE to become a true multi-line luxury brand, and leather goods, cosmetics, household products and other categories will be further developed."
What new operations will OFF-WHITE bring after joining LVMH? Maybe we can do more of our own joint names! Everyone can look forward to it!