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LVMH, the fashion luxury house that oversees a plethora of brands, is selling its stake in OFF-WHITE to Blue Star Alliance, according to Business of Fashion.
BREAKING ?
LVMH has sold OFF-WHITE to Bluestar Alliance, a New York-based brand management company who operates labels such as Scotch & Soda, Hurley, + Bebe ? pic.twitter.com/FGLYqz0U0F
— Snkrs Day (@snkrsday) September 30, 2024
In 2021, LVMH acquired a 60 percent stake in Off-White LLC. The brand is still under a licensing agreement with the New Guards Group that it can renegotiate or terminate in 2026.
The sale comes amid OFF-WHITE’s 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,” BOF writes.
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