The Off-White founder got a seat at the LVMH table
Photo: Getty Images On Tuesday, the most powerful luxury-goods conglomerate in the world announced that it is giving a seat to one of the most prominent Black designers and executives in fashion. LVMH is becoming a majority investor in Off-White, the high-end streetwear brand founded by Virgil Abloh in 2013 in Milan.
Abloh’s relationship with LVMH stretches back to 2007, when he interned at Fendi. At the time, Kanye West hired Abloh as creative director to help launch some projects outside of music. He founded Off-White in 2012, and three years later became a finalist for the LVMH prize for young designers. In 2018, he was named menswear designer of Louis Vuitton.
In the grand scheme of things, taking a majority stake in Off-White is just another day for LMVH. Last year, it bought Tiffany & Co.; last week, it announced it was taking a minority stake in Phoebe Philo’s new namesake label; and according to WWD, it has deepened its foothold in experiential luxury by opening hotels and restaurants around the world.
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