LVMH has sold Off-White LLC, the company that owns the Off-White brand, to New York-based brand management company Bluestar Alliance, according to a Monday press release. Financial terms of the transaction were not disclosed.
In 2021, LVMH acquired a majority stake in Off-White, the luxury streetwear brand founded by Virgil Abloh, who died in November of that year.
In the release, LVMH said it was “proud of the legacy that Off-White has built under Virgil Abloh’s visionary leadership,” and added that “Bluestar Alliance is the perfect partner to carry that legacy forward.”
Bluestar Alliance owns, manages, and markets a portfolio of brands including Hurley, Catherine Malandrino, Nanette Lepore, Limited Too, Brookstone and Scotch & Soda, which was acquired last year.
“Virgil was a creative pioneer who had a profound impact on the global fashion industry and creative community,” Joey Gabbay, CEO of Bluestar Alliance, said in the release. “Acquiring Off-White represents a unique opportunity for Bluestar Alliance to honor and build upon the enduring legacy of Virgil Abloh. 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.”
