LVMH has sold Off-White, the brand founded by Virgil Abloh, to the New York-based brand management company Bluestar Alliance. The price of the sale was not immediately disclosed, but Off-White has been struggling to maintain relevance and sales in an increasingly competitive market.
“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. “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.”
The group manages a portfolio of mid-priced brands, including Catherine Malandrino, Bebe, and Tahari.
In a statement, LVMH said it is “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 respecting 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.”
This is a developing story.
