Luxury Goods Corporation LVMH to Purchase Majority Stake in Off-White

It seems we can't go a few days without writing about Virgil Abloh's Off-White at the moment. Following the reveal last week of plans to link up with Nike for an Olympic-styled capsule, as well as news of the Off-White x Nike Air Zoom Tempo NEXT%, reports now suggest the Italian fashion label is now having a majority stake in the company bought by LVMH.

For the unfamiliar, LVMH is a French Holding multinational corporation that specialises in luxury goods. With subsidiaries such as Louis Vuitton, Dior, Fendi, Givenchy and many more under LVMH's belt, it's safe to say Off-White is likely in safe hands.

Early reports say that LVMH aims to take a 60% stake in the company while working alongside Creative Director Virgil Abloh to create and grow sectors of the business. Virgil Abloh will retain 40% ownership of the business and New Guards Group will still be the brand's operating partner.

Despite LVMH being involved with Louis Vuitton, the partnership won't affect Virgil's Artistic Director role at the brand. Further details are yet to be revealed, so keep it locked here for all the latest. In other news, gear up for the great outdoors with this gaming inspired Gucci x 100 Thieves backpack.