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.