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LVMH Gives Designer Virgil Abloh Bigger Role, Buys Stake in Off-White

  • Abloh’s appeal to young generations is a draw for LVMH
  • LVMH is also backing designer Phoebe Philo’s fashion brand
Virgil Abloh
Virgil AblohPhotographer: Getty Images/Getty Images
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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.