However, carrying on Off-White’s legacy without its founder has proved difficult, coinciding with declining demand for streetwear and a slowing global market for luxury goods.
A push upmarket by the brand was not well received by consumers and wholesale buyers.
An additional layer of complexity was added by the fact that, while LVMH’s purchase gave it ownership of the Off-White trademarks, the label’s operating company — in which LVMH also took a minority stake — still has a licensing agreement in place with New Guards Group, owned by financially troubled online retailer Farfetch.
However, the licensing deal will be up for renegotiation next year.
Executives at both New Guards Group and LVMH said shortly after Abloh’s passing that he had left behind a large legacy of ideas and plans that would continue to fuel the brand.
However, Off-White chief executive Cristiano Fagnani described a “critical situation” by the time he took over in 2023 in an interview with Business of Fashion. This was “in part due to the decision to shift positioning; in part due to the challenging situation at Farfetch”.
Since then the brand has looked to revive its fortunes, including debuting at New York Fashion Week earlier this month.
And last week, Off-White announced a partnership with the women’s NBA basketball team New York Liberty, the latest in a wider embrace of women’s sports by luxury fashion brands.
Adrienne Klasa © 2024 The Financial Times
Additional reporting by Sara Germano
This article first appeared in The Financial Times