Wednesday November 29, 2023

Off-White Brings More Sportswear to LVMH

  • Off-White was acquired by LVMH, which took a 60% in the street and sportswear fashion brand created by Virgil Abloh.
  • Off-White has partnered with Nike on sneakers and athletic wear.
Nike/Design: Alex Brooks
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Louis Vuitton Möet Hennessy bought a 60% stake in Off-White, the luxury conglomerate announced Tuesday. 

The investment brings another name with deep sportswear ties to LVMH’s unrivaled roster of brands.

Off-White, created by Louis Vuitton men’s artistic director Virgil Abloh, has a line of extremely popular sneakers with Nike. The two brands also teamed up to produce athletic apparel, including a collaboration with Manchester United forward Marcus Rashford.

Abloh designed the uniform Serena Williams wore while playing in the 2018 U.S. Open, as well.

Many other LVMH brands have high-profile sports tie-ins. Dior released its own Air Jordan sneaker, Hennessy partners with the NBA, and TAG Heuer sponsors Porsche’s racing team and athletes including Naomi Osaka.

Off-White is just the latest major acquisition for LVMH.

  • In January, LVMH purchased Tiffany for $15.8 billion.
  • In February, it bought 50% of Jay-Z’s Armand de Brignac champagne.
  • It assumed full ownership of designer line Emilio Pucci in June.
  • LVMH’s investment vehicle, L Catterton, bought 60% of Italian brand Etro earlier this week and Birkenstock for $4.8 billion earlier this year. The private equity group is exploring options to go public.

LVMH recently surpassed Nestlé in March to become the largest company in Europe — it has a market cap of $382 billion. Its founder, Bernard Arnault, is worth $182.1 billion.

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