Following the acquisition, LVMH will own a 60% interest in the trademark, and Abloh will retain a 40% interest and continue as Creative Director of the brand, which he founded in 2013.

Abloh’s partnership with LVMH began in March 2018 when he was appointed the Artistic Director of Louis Vuitton’s menswear collection. Abloh will continue in that role at Louis Vuitton. Additionally, LVMH and Abloh have agreed to another collaboration. It will leverage the group’s expertise to launch new brands and partner with existing ones in a variety of sectors beyond fashion. Initial discussions have already begun and an increase in Off-White branded leather goods is part of a future strategy.

Abloh said: “For nearly a decade, we’ve been building Off-White to be a brand designed to empower our generation and challenge the status quo. LVMH brings to the table the additional firepower and scale to accelerate our momentum and evolve Off-White into a truly multi-line luxury brand.”

The transaction through which LVMH is investing in Off-White is subject to regulatory approval and is expected to be completed within the next 60 days.