There has been no shortage of palace intrigue at the world’s largest luxury company. Soon after backing Phoebe Philo’s new venture, LVMH said this week it was acquiring a majority stake in the entity through which Virgil Abloh owns Off-White’s intellectual property.
Farfetch-owned New Guards Group, which founded Off-White with the polymathic creative director in 2014, will continue to operate the hot-but-cooling haute streetwear brand through a licensing agreement, though Abloh said the deal would bring “additional firepower and scale to accelerate our momentum and evolve Off-White into a truly multi-line luxury brand.”
For LVMH, however, the alliance is likely less about Off-White and more about solidifying its link to Abloh, a rare creative talent whose contract as men’s artistic director of Louis Vuitton has an expiry date and who has surely been approached by competitors in Europe and the US.
Abloh is highly unique at LVMH and in the