Barack Ferrazzano was lead counsel to Louis Vuitton in the deal.
LVMH Moët Hennessy announced is acquiring a majority stake in Off-White LLC, the trademark owner of Virgil Abloh’s Off-White brand. LVMH and Virgil Abloh have also agreed to an agreement that will give the designer leeway to launch brands and seal partnerships across the full range of the luxury conglomerate’s activities, beyond just the fashion division.
As part of the agreement, LVMH will raise its stake in Off-White LLC to 60 percent. Abloh will retain a 40 percent interest and continue as creative director of the label, which he founded in 2014. Italian holding company New Guards Group will stay on as a licensee for Off-White. Meanwhile, Abloh will remain artistic director of the men’s wear collections at Louis Vuitton.
The strategy comes as LVMH deepens its foothold in experiential luxury- with the recent opening of Cipriani restaurant in Saint-Tropez, and a Cheval Blanc hotel set to bow in Paris in September- and luxury brands like Vuitton expand their partnerships into the worlds of sports, music and gaming.
Off-White operates 56 stand-alone stores worldwide, and more are on the way. In Paris, the brand recently opened a flagship at the intersection of Rue de Castiglione and Rue du Mont Thabor that includes a café operated with boutique Japanese coffee company % Arabica.
The Barack Ferrazzano team was led by senior partner and founder Peter J. Barack (Picture), Corporate & Securities and Fashion, Luxury & Retail Group chair Daniel L. Dominguez, and associate Kaitlyn E. Kelly. Intellectual Property Group co-chair Scott J. Slavick assisted with intellectual property matters, Tax & Business Planning Group co-chair Michael J. Towne and associate Megan E. Toal provided guidance with respect to the tax aspects of the transaction.
Involved fees earner: Peter Barack – Barack Ferrazzano Kirschbaum & Nagelberg; Daniel Dominguez – Barack Ferrazzano Kirschbaum & Nagelberg; Kaitlyn Kelly – Barack Ferrazzano Kirschbaum & Nagelberg; Scott Slavick – Barack Ferrazzano Kirschbaum & Nagelberg; Megan Toal – Barack Ferrazzano Kirschbaum & Nagelberg; Michael Towne – Barack Ferrazzano Kirschbaum & Nagelberg;
Law Firms: Barack Ferrazzano Kirschbaum & Nagelberg;