LVMH Sells Off-White Label
LVMH sold luxury-streetwear brand Off-White to New York-based brand management company Bluestar Alliance for an undisclosed sum, three years after its first investment in the label founded by American designer Virgil Abloh. On Friday, LVMH said it acquired an indirect stake in Moncler, after it reached an agreement with the holding company controlled by the Remo Ruffini, the chief executive of the Italian premium fashion brand. The owner of Louis Vuitton, Dior and Tiffany’s in July 2021 agreed to acquire a 60% stake in the company, with the brand’s founder holding the remaining 40%.