What does the LVMH majority stake in Off-White mean for the future?
Mark July 20th, 2021, as the day we remember culture being turned on its head. On this day, a Tuesday, news broke that LVMH luxury group bought a majority stake in Off-White, the luxury streetwear brand of #architect, culture aficionado, DJ and oh by the way, artistic director of Louis Vuitton's menswear collection, Virgil Abloh. By acquiring a 60% stake in Off-White, #LVMH has now solidified itself as a curator of cool for the foreseeable future.
At only 40 years old, Abloh has now become not only one of the most powerful black executives in the world, but one of the most influential purveyors of #culture in countless industries. Abloh now takes on a larger role at LVMH working on not just fashion, but spirits, hospitality, and maybe even the receptionist, as well. While speaking with The New York Times, Abloh was quoted saying:
"I'm getting a seat at the table."
Understatement of the century, we think. Compared to artists and creatives such as KAWS, Travis Scott, Tom Sachs and Marc Jacobs, Abloh has become synonymous with youth culture, pushing the envelope of norms and capturing more followers along the way. With LVMH having a history of dipping into their designers' personal brands, this deal is seen as an evolution for LVMH to disrupt what people are used to seeing in fashion and other creative arts.
In a nutshell, nobody knows for sure. But that's part of the allure and significance of this agreement. We all expect something cool to come together. The doors of collaboration were already open, but this seems to blow them off their hinges and into an MCU Multiverse-like stage. We might see a (well-deserved, we might add) highlight of brands such as WAFFLESNCREAM collaborating with Louis Vuitton in some capacity. We might see a futuristic fashion show in Fortnite with Travis Scott. Who knows, but we expect it to be cool nonetheless.
Although you've seen some recent cultures crossing over with the likes of Ben Baller x 2K Sports, these industries have been following each other for a long time, but no one has been able to fuse everything together that doesn't feel like pandering. Abloh is one influencer that can make this happen. As the first Ghanian-American to be put into a position of extreme significance at a powerhouse like LVMH, one expects to see these universes collide at some point. Doing so will be more difficult than the breadstick at Olive Garden, but it is not impossible. #CROSSxOVER #FashionDesigner #Minority #Influencer #VirgilAbloh #LouisVuitton #TravisScott #CactusJack #Fashion #Nike #WAFFLESNCREAM #TomSachs #MarcJacobs #Streetwear #StreetStyle #StreetCulture #Lifestyle #Style #Sneakers #Couture #Collaboration #OliveGarden #YouthCulture #YouthMovement #GenZ #GenX #GenY #Fortnite #EpicGames #BenBaller #2KSports #NBA2K20
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