LVMH has finalised the sale of Off-White to Bluestar Alliance, a New York-based investor.
- The transaction did not disclose financial details but marks a significant shift for the luxury streetwear brand.
- Off-White was founded by the late Virgil Abloh, a prominent figure in bridging street culture with high fashion.
- Bluestar Alliance aims to honour Abloh’s legacy and continue the brand’s creative momentum.
- This acquisition expands Bluestar’s portfolio, which includes several notable fashion and lifestyle brands.
LVMH, the renowned luxury conglomerate, has officially sold the luxury streetwear brand Off-White to Bluestar Alliance, an influential brand management company based in New York. While the financial specifics remain undisclosed, the transaction signifies a strategic transition for Off-White, a brand synonymous with the innovative design ethos of its founder Virgil Abloh, who significantly impacted the fashion world until his untimely passing in 2021 at the age of 41.
Virgil Abloh, who established Off-White in 2012, was instrumental in redefining the fashion landscape by merging streetwear and high fashion, a fusion that resonated with diverse audiences globally. In 2018, Abloh was appointed as the first black artistic director at Louis Vuitton, under the auspices of LVMH, further cementing his influence on the fashion industry. His pioneering efforts were recognised when LVMH acquired a 60% stake in Off-White in July 2021, while Abloh retained a 40% share.
Bluestar Alliance’s acquisition of Off-White demonstrates its commitment to preserving and expanding upon Abloh’s enduring legacy. Joey Gabbay, co-founder and CEO of Bluestar Alliance, emphasised that Abloh’s visionary approach aligns deeply with their core values. Gabbay stated, “His ability to fuse street culture with high fashion has laid a powerful foundation that aligns with our vision of fostering innovation while embracing diversity.”
In addition to Off-White, Bluestar Alliance manages a diverse array of brands, including Hurley, Bebe, Elie Tahari, and Scotch & Soda, the latter of which was rescued from bankruptcy in early 2023. The addition of Off-White to this robust portfolio offers Bluestar an exceptional opportunity to extend its influence in the fashion industry, leveraging its extensive resources to sustain the cultural and creative momentum initiated by Abloh.
Off-White, under the stewardship of LVMH, reflected significant commercial success, contributing to LVMH’s broad array of brands such as Louis Vuitton and Christian Dior. Despite a slight revenue decline in the first half of 2024, with recorded earnings of €41.7 billion, LVMH remains a formidable entity in the luxury sector, continually adapting to market dynamics.
The sale of Off-White to Bluestar Alliance marks a new chapter, ensuring Virgil Abloh’s vision and legacy persist in the fashion world.
