LVMH has sold Off-White LLC, owner of the Off-White brand, to Bluestar Alliance LLC, the New York-based brand management company that operates labels such as Tahari, Bebe and Scotch & Soda, in a deal announced Monday.
The companies did not disclose the terms of the deal.
LVMH had acquired a 60 percent stake in Off-White LLC in 2021. The brand is still under a licensing agreement with the New Guards Group that it is able to renegotiate or terminate in 2026.
The sale comes amid Off-Whiteâs struggles to regain the relevance it had under founder Virgil Abloh, who died in 2021. The company has seen its cultural cachet decline, while a push into luxury under LVMH and new creative director Ib Kamara has confused its core customers. Major wholesale accounts have dropped the brand in recent years.
The brand has been attempting a reset. At New York Fashion Week in September, it presented its first American runway show to reconnect with American shoppers and its cultural consumers.
âThe acquisition of Off-White, and the opportunity to provide strategic, investment and build upon our global network of resources will allow for the continuation of the cultural and creative momentum that Virgil ignited, one that Bluestar Alliance is committed to carrying forward,â Bluestar Alliance chief executive Joey Gabbay said in a statement.
Stay tuned to BoF for updates on this developing story.
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