Louis Vuitton Moët Hennessy(LVMH) has sold Off-White LLC to brand management company Bluestar Alliance, marking a significant transition for the luxury fashion brand Virgil Abloh founded in 2012. Women’s Wear Daily reported that while the financial terms of the deal remain undisclosed,

Off-White has been begging for a fresh start, especially after recently presenting for the first time ever at New York Fashion Week. CEO Cristiano Fagnani wants the brand to return to its streetwear roots, collaborating with Nike again instead of the luxury brands that LVMH tried to position it with.

LVMH was reported to have bought a majority stake in Off-White back in July 2021. At the time, Abloh had been designing for the LVMH-owned Louis Vuitton for three years. Abloh, 41, died in November 2021 after a two-year battle with a rare type of cancer.

Bluestar Alliance owns, manages, and markets a portfolio of consumer brands ranging from Hurley, Scotch & Soda and Bebe, to Elie Tahari, Catherine Malandrino and Nanette Lepore, among others.

LVMH sold luxury-streetwear brand Off-White to Bluestar Alliance for an undisclosed sum.

Off-White, the Virgil Abloh brand that was bought out by LVMH in 2021 at the height of its popularity now faces cultural irrelevancy. Why?

French luxury goods company LVMH has sold its stake in the streetwear label Off-White three years after the death of the brand's founder, Virgil Abloh. New York–based brand management company Bluestar Alliance now owns LVMH's stake.

Shares of LVMH Moët Hennessy Louis Vuitton, or LVMH ($FR:MC), fell over 1% as of writing after it agreed to sell Off-White LLC to the U.S.-based