Luxury conglomerate LVMH has sold Off-White to Bluestar Alliance just two years after acquiring the streetwear brand. The terms of the transaction were not disclosed.

Bluestar Alliance – a New York-based brand management company – is known for acquiring distressed labels and licensing their names. The company’s portfolio includes Tahari, Bebe, and Scotch & Soda. 

Gary Wassner, chief executive of the financing and factoring company at Hildun Corporation, shared his thoughts about Off White’s future.

“It seems as if the full-price luxury market has given up on the brand,” he told Business of Fashion. “If you look at [Bluestar’s] roster of brands, I believe they would intend to licence the Off-White brand into lower price-point categories.”

Off-White, founded in 2013 by the late Virgil Abloh, is based in Milan and is known for blending minimalism with street aesthetics and luxury fashion. 

In July 2021, LVMH acquired a 60 per cent stake in Off-White, with Abloh retaining 40 per cent as creative director. However, just months after the acquisition, Abloh passed away in November 2021, leaving the brand’s future uncertain.

Blue Star Alliance CEO Joey Gabbay said the company’s purchase of Off-White presents a unique opportunity to build on the “enduring legacy” of the brand. 

“The acquisition of Off-White and the opportunity to provide strategic investment and build upon our global network of resources will allow for the continuation of the cultural and creative momentum that Virgil ignited,” said Gabbay.

Meanwhile, LVMH acknowledged Abloh’s contribution and expressed confidence in Bluestar Alliance as the brand’s new steward.

“Bluestar Alliance shares our commitment to respect creative integrity, and we are confident that, under their stewardship, Off-White will continue to innovate while respecting the spirit and values of the brand,” LVMH concluded.