Authentic Brands Group has acquired a majority stake in the intellectual property of OVO, the premium lifestyle brand co-founded by Drake, as the partners look to expand the brand globally.
Drake will retain a significant ownership stake in OVO and continue shaping the brand’s creative direction alongside Authentic.
The transaction brings OVO into Authentic’s portfolio of more than 50 sports, fashion, entertainment and lifestyle brands.
Authentic plans to use its global licensing, distribution, content and commerce platform to expand OVO into new markets and develop additional businesses around the brand while maintaining its existing identity.
OVO was built around Drake’s cultural influence and has developed into a lifestyle and apparel business with a recognizable design aesthetic and global following.
The partnership gives OVO access to Authentic’s network of more than 1,700 licensees and strategic partners across approximately 150 countries.
Authentic’s portfolio generates more than $38 billion in annual systemwide retail sales and reaches nearly one billion social media followers.
The transaction also establishes Vince Holding Corp. as a major operating partner for OVO.
Vince Holding Corp. has acquired OVO’s operating business and will oversee design, product development, merchandising and retail stores.
The company will also serve as OVO’s core apparel licensee.
Authentic said the structure reflects its model of owning and developing intellectual property while partnering with specialized operators to manage individual product categories and businesses.
OVO’s creative and design identity will remain distinct, with Vince focused on supporting the brand’s existing vision while expanding its commercial reach.
The partnership combines Drake’s creative leadership, Authentic’s global brand management infrastructure and Vince Holding Corp.’s apparel and retail capabilities.
The companies plan to use that combination to introduce OVO to additional consumers, expand distribution and develop new business opportunities internationally.
OVO joins an Authentic portfolio that includes Reebok, Champion, Sports Illustrated, David Beckham, Shaquille O’Neal, GUESS, Brooks Brothers, Nautica, Vince, Barneys New York, Quiksilver, Billabong, Volcom and other entertainment and lifestyle properties.
KEY QUOTES:
“We’re just a couple kids from Toronto who started something we believed in. Here we are 20 years later, same kids with bigger dreams. Authentic and VNCE are the perfect partners to help us continue to grow.”
Drake, Co-Founder Of OVO
“OVO has earned a place among the world’s most influential lifestyle brands because it has always stood for something authentic and unmistakable. Drake and his team have built something with incredible cultural influence. We see a significant opportunity to take that even further, opening new markets, building new businesses and reaching more people around the world without losing what makes OVO, OVO.”
Jamie Salter, Founder And Executive Chairman Of Authentic Brands Group
“Few brands combine influence, elevated style and approachability the way OVO does. We are proud that Authentic has chosen us as their partner and we are energized by the trust that comes with it. OVO’s creative and design identity remains its own, and our role is to support that vision and bring it to more consumers around the world.”
Brendan Hoffman, Chief Executive Officer Of Vince Holding Corp.
