The sale was announced on what would have been the birthday of Virgil Abloh, the brand's late founder.
LVMH had acquired a 60% stake in Off-White™ from Abloh in July 2021. The decision to sell comes just three years after this acquisition. While the financial details of the transaction have not been disclosed, the move marks a shift in ownership for the streetwear-meets-luxury brand.
Bluestar Alliance, a brand management company, now adds Off-White™ to its diverse portfolio. The company's existing brands include Hurley, Scotch & Soda, Bebe, English Laundry, and Brookstone. Off-White™'s unique position in the fashion landscape represents a departure from Bluestar's current holdings.
Joey Gabbay, CEO of Bluestar Alliance, commented on the acquisition, emphasizing Abloh's impact on the fashion industry and creative community. Gabbay expressed the company's intention to honor and build upon Abloh's legacy, noting the alignment between Off-White™'s fusion of street culture with high fashion and Bluestar's vision for innovation and diversity.
LVMH also released a statement, expressing confidence in Bluestar Alliance as a suitable partner to carry forward the Off-White™ legacy. The luxury conglomerate highlighted the importance of respecting the brand's creative integrity and values.
Off-White™'s journey began in 2012 when Abloh founded the brand as a successor to his PYREX VISION label. The brand quickly gained prominence, showcasing its first full womenswear collection at Paris Fashion Week in 2014 and earning an LVMH Prize nomination in 2015.
The brand's ownership history includes its absorption into New Guards Group in 2015, which was later acquired by Farfetch for $675 million in 2019. LVMH's subsequent investment in Off-White™ was structured through Off-White LLC, which managed Abloh's various business ventures.
This sale occurs as Off-White™ continues to evolve under the creative direction of Ib Kamara, a magazine editor and stylist. The brand's recent show at New York Fashion Week received generally positive reviews, though it followed a period of change, including the appointment of a new CEO amid restructuring at New Guards Group.
The fashion industry will be watching closely to see how Off-White™ develops under its new ownership, particularly in light of its unique position bridging streetwear and luxury fashion.