LVMH acquires majority stake in Virgil Abloh’s Off-White

French luxury house LVMH has acquired a majority stake in the label Off-White, launched by designer Virgil Abloh in 2014.

LVMH will hold a 60% stake in Off-White, with Abloh retaining the remaining 40% stake.

The 40-year-old American designer and DJ, who rose to fame in the early 2000's as Kanye West’s Creative Director, works as Artistic Director at Louis Vuitton menswear department alongside running his own label, known for its streetwear.

According to a statement from the company, in his new role he will help LVMH launch new brands and partner with current brands “beyond the realm of fashion”.

Speaking to The Financial Times, Abloah explained that expanding Off-White's 58-store portfolio is said to be a "key focus", with hopes of the brand becoming a “truly multi-line luxury brand”, expanding into other categories such as leather goods and cosmetics.