Fashion conglomerate LVMH, the parent company that owns multiple high-end fashion brands, including Louis Vuitton and more, has just sold Off-White to Bluestar Alliance. News of the sale comes on the day of what would have been the late Virgil Abloh's 44th birthday, the man who conceived the avant-garde fashion label.
After morphing his Pyrex Vision label into Off-White in 2013, Virgil Abloh took the brand to unprecedented heights over the next decade. Abloh collaborated with many brands, most famously Nike, on the "The 10" Collection. The partnership between Nike and Off-White elevated both labels, generating massive hype for Nike and helping make Off-White a household name among sneakerheads.
During Virgil's life and time leading the brand, it was owned by New Guards Group, but the company sold Off-White to Farfetch (owned by LVMH) in 2019 for $675 million. Then, just two years later, LVMH announced it would take 60% of the company, with Farfetch owning the other 40%. Now, the brand has been sold in its entirety to Bluestar Alliance, which owns Bebe, Hurley, Scotch and Soda, and other brands. The terms of the deal were not disclosed.
After Virgil's passing, the brand has struggled to maintain the same level of relevancy it had under the direction of Abloh. According to Business of Fashion, who reported the news of the sale to Bluestar Alliance, many wholesale accounts have stopped carrying Off-White due to poor sales.
"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 chief executive Joey Gabbay told Business of Fashion.
We'll have to see if the brand can recapture the same hype and relevancy it had years ago under new ownership. Perhaps we'll begin to see the rollout of new Off-White x Nike and Off-White x Jordan collaborations? Only time will tell. Download the Sole Retriever mobile app for more updates on the latest releases, raffles, news, and more in the sneaker and streetwear world.
Sneakerhead from South Florida who turned his passion into a career. Concerts, music, trying new restaurants, and catching the latest movies are some of the things I enjoy when not writing for Sole Retriever. Email: nick@soleretriever.com