Authentic Brands Group Acquires Majority Stake in Drake’s Way of life Model OVO

Authentic Brands Group has acquired a majority stake in Drake’s life-style model October’s Very Own, higher generally known as OVO.

The licensing large says that the Canadian rapper will proceed to personal a minority stake within the firm and can assist form its inventive imaginative and prescient going ahead. Authentic can also be working with the attire firm Vince Holding Corp. on design, product growth and retailing of OVO merchandise.

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“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,” Drake stated in a press release. “Authentic and VNCE are the perfect partners to help us continue to grow.”

“OVO has earned a place among the world’s most influential lifestyle brands because it has always stood for something authentic and unmistakable,” added Jamie Salter, founder and govt 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.”

Authentic has turn out to be the second largest licensor within the U.S., behind solely The Walt Disney Co., partly by inking offers with high-profile celebrities like Kevin Hart, Shaquille O’Neal and David Beckham, but it surely has additionally aggressively acquired manufacturers like Brooks Brothers, Champion, Sports Illustrated and the Care Bears, serving to to broaden them into new areas and develop core enterprise traces.

Drake’s OVO combines each superstar and vogue into one model, with Authentic searching for to assist it develop.

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