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2 Oct 2024 ///

LVMH ANNOUNCED THE SALE OF OFF-WHITE TO BLUE ALLIANCE ON VIRGIL ABLOH’S BIRTHDAY

It’s been nearly three years since the tragic passing of fashion legend Virgil Abloh, and the continuation of his legacy has remained ever-important to fans and peers alike. 

Off-White, his groundbreaking label founded in Milan in 2013, was acquired by LVMH in 2021 with a 60% majority stake; Abloh retaining the other 40%— with the luxury giant making assurances that their purchase of Off-White would play a key role in preserving Abloh’s historic legacy, aligning with his creative direction under the Louis Vuitton Men’s brand. On Monday, 30th September (Virgil Abloh’s birthday), LVMH announced the sale of Off-White LLC (the label’s partner company) to brand management firm Bluestar Alliance. 

The news has come as a shock to many in the industry — for various reasons, least not the seemingly scheduled timing of the announcement on a day in which many were commemorating Abloh’s life and legacy. There are suggestions that this is a downward trajectory for the luxury fashion label, as Bluestar Alliance specialises in revitalising established brands by leveraging strategic licensing, partnerships, and market expansion. For a luxury label like Off-White, this could potentially lead to a dilution of its exclusivity and prestige, as mass-market strategies may overshadow the brand’s original high-fashion ethos.

Off-White SS25, screenshot via @off_____white IG

Virgil Abloh, screenshot via @virgilabloh IG

Surviving under the highly articulated auspices of Ib Kamara as Off-White’s current creative director, the brand has remained a firm favourite on the fashion scene. With its notable house codes of streetwear, the label has also been lauded as a trailblazer that reflects the intersection of luxury and Black culture. Despite Kamara’s undeniable talent, questions have inevitably arisen about the absence of Abloh, who was inseparable from the identity of Off-White. His approach and distinct perspective were integral to the brand’s success, a sentiment echoed by senior retail analyst Jessica Ramirez of Jane Hali & Associates, who noted for Business of Fashion that “Off-White hasn’t been the luxury brand that we knew. It lost its way, unfortunately.” 

With Bluestar Alliance now at the helm (and presumably with approval from whoever holds the remaining 40% stake following Abloh’s passing), a potential silver lining could be the increased accessibility of the Off-White brand. This broader reach may introduce the label to a wider audience, making its distinctive influence more attainable, while potentially expanding its presence across new markets. In a global recession, many of us remained simply aligned in spirit with a brand like Off-White than with the ability for any tangible, purchasing support.

Luxury fashion does seem to be on a slight downward turn itself, as evidenced by LVMH’s reported 1% year-on-year revenue decline, amounting to an estimated loss of €41.7 billion for the first half of 2024. This trend raises questions about the overall health of the luxury market and the challenges it may face moving forward — and whether the fashion market will continue to be dominated by large conglomerates. LVMH’s sale of Off-White could indicate a proverbial ‘tightening of the belt’ if this profit slip is projected to continue.

It is also understood that Abloh’s wife, Shannon, and Virgil Abloh Securities (a creative corporation established to maintain Abloh’s legacy) have not been involved with Off-White since 2022. 

The future of Off-White is uncertain, but the fact remains that Virgil Abloh’s presence is felt far and wide. As the brand navigates this new chapter, it will be intriguing to see how his legacy shapes its evolution moving forward. We wait with bated breath. 

 

For more news, visit the Connect Everything Collective homepage www.ceconline.co.za

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