LVMH adds Off-White to its luxury brand list
Live MintFrench luxury group LVMH said on Tuesday it will buy a 60% stake in its star menswear designer Virgil Abloh's Off-White steetwear label and expand his role within the spirits-to-jewellery conglomerate. Abloh, 40, was hired to create menswear collections for Louis Vuitton, LVMH’s biggest revenue driver, in March 2018 as the group sought to breathe new life into some labels and attract younger customers. The highest profile black designer in fashion, he said LVMH would help him develop Off-White into a "truly multi-line luxury brand" while he hoped his expanded role at the French giant would also help foster diversity in the industry. The Off-White brand is known for its luxury urban style, featuring hoodies that start at 400 pounds, at a time when some high-end brands are adopting streetwear looks to attract younger shoppers.