Authentic Brands Group has acquired a majority stake in the intellectual property of Drake’s OVO lifestyle and apparel brand, while Drake retains significant ownership and remains responsible for its creative direction. Vince Holding Corp. will run OVO’s clothing, merchandising and retail operations, a move intended to expand the Toronto-founded brand internationally while preserving its identity.

Drake co-founded OVO in 2008 with Oliver El-Khatib and Noah “40” Shebib; it has since grown from a blog into a global streetwear business with twelve flagship shops in Canada, the US and UK. Authentic, whose portfolio includes Champion, Nautica and Sports Illustrated, sees scope to open new markets and businesses. Separately, Canada’s broadcasting regulator says it will proceed with plans to require major streaming services to make Canadian content more visible, despite US objections during trade discussions.