Authentic Companions with Drake to Scale OVO Globally — Authentic Brands Group

Authentic acquires majority stake in OVO mental property, with Drake retaining important possession

Authentic Brands Group (“Authentic”), a worldwide model and leisure platform, immediately introduced the acquisition of a majority stake within the mental property of OVO, the premium life-style model co-founded by Drake. As the driving pressure behind OVO, Drake will retain a big possession stake and proceed shaping its artistic imaginative and prescient alongside Authentic.

The partnership builds on Authentic’s confirmed strategy to rising iconic manufacturers and cultural belongings via content material, experiences and international commerce whereas preserving the id and inventive imaginative and prescient that outline them. OVO joins a portfolio of world sports activities, style, leisure and life-style properties, strengthening Authentic’s place as a platform constructed to speed up each heritage manufacturers and the subsequent technology of creator-led manufacturers.

“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,” stated Drake.

“OVO has earned a place among the world’s most influential lifestyle brands because it has always stood for something authentic and unmistakable,” stated Jamie Salter, Founder and Executive Chairman of Authentic. “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.”

As part of the transaction, Vince Holding Corp. (Nasdaq: VNCE), a valued, longstanding partner within Authentic’s global network, has acquired OVO’s operating business and will oversee the brand’s design, product development, merchandising and retail stores. Vince Holding Corp.’s role as OVO’s core apparel licensee reflects Authentic’s model of pairing brands with best-in-class operators to drive long-term growth.

“Few brands combine influence, elevated style and approachability the way OVO does,” said Brendan Hoffman, Chief Executive Officer of Vince Holding Corp. “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.”

Together, Drake, Authentic and Vince Holding Corp. convey complementary strengths to OVO’s international enlargement, making a basis to increase the model’s cultural affect, attain new audiences and construct new companies worldwide.