LVMH is entrusting rising star designer Virgil Abloh with the task of creating brands and pushing into new business segments, highlighting the luxury conglomerate’s desire to capture a younger, more diverse set of consumers.
As part of the agreement, LVMH will buy a 60% stake in Abloh’s street-style fashion brand Off-White for an undisclosed price. Besides his expanded role, Abloh will continue as the creative director of the Louis Vuitton menswear line, the French company said Tuesday.
