Authentic Brands Group acquires majority stake in IP of Drake’s OVO brand
Authentic Brands Group has acquired a majority stake in the intellectual property of Drake’s OVO lifestyle brand, while Drake retains a significant ownership interest and remains involved in its creative direction. The deal brings OVO into Authentic’s portfolio of fashion, sports and entertainment brands, with the companies aiming to expand its global reach without changing its established identity.
Financial terms were not disclosed. Vince Holding Corp has bought OVO’s operating business and will manage design, product development, merchandising and its 12 flagship stores, acting as the core apparel licensee; OVO, founded in 2008 by Drake, Oliver El-Khatib and Noah “40” Shebib, also operates online. Authentic says its brands generate more than $38 billion in annual worldwide retail sales.
- Authentic takes majority control of OVO’s intellectual property.
- Drake retains a significant stake and creative influence.
- Vince will run OVO’s apparel and retail operations.
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OVO, short for October’s Very Own, is a lifestyle brand founded in 2008 by musician Drake, Oliver El-Khatib and producer Noah “40” Shebib. It grew from their creative partnership into a label selling clothing and other products, with shops and an online store.
Authentic Brands Group owns or manages the intellectual property of a portfolio of fashion, sports and entertainment brands, typically earning money by licensing them to companies that make and sell products. Vince Holding Corp is an apparel company that will run OVO’s day-to-day operating business, including product development and stores.
The arrangement separates ownership of OVO’s brand rights from the operation of its retail business. It matters because the companies plan to use their different roles to expand OVO’s reach, while Drake remains involved in its creative direction.