Luxury conglomerate, LVMH (Moët Hennessy Louis Vuitton) has just announced that it is set to buy a majority stake in Off-White LLC for an undisclosed price. Virgil Abloh, the label’s founder and CEO, will maintain a 40 percent interest in the company while keeping his current role, with French luxury group LVMH obtaining a 60 percent stake.
Abloh, 40, a U.S. national who also works as a DJ and visual artist rose to prominence in the early 2000s as Kanye West’s creative right-hand. He was hired by LVMH in March 2020 to create menswear collections for Louis Vuitton, the luxury giant’s biggest revenue driver.
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