Virgil Abloh is looking forward to expanding his relationship with the team at Moet Hennessy Louis Vuitton (LVMH).
Bosses at the French luxury conglomerate announced on Tuesday that they are to acquire a sixty per cent stake in the fashion designer's popular Off-White streetwear label, with Abloh to retain the remaining stake and serve as creative director.
In addition, he is to continue in his role as artistic director of Louis Vuitton's menswear collection, and pursue new projects across luxury categories.
"For nearly a decade, we've been building Off-White to be a brand designed to empower our generation and challenge the status quo. LVMH brings to the table the additional firepower and scale to accelerate our momentum and evolve Off-White into a truly multi-line luxury brand," said Abloh. "I'm incredibly excited to work together with LVMH on other possible collaborations - an evolution of the great relationship I have had with LVMH, (chairman) Bernard Arnault, (chief executive officer) Michael Burke at Louis Vuitton, and others.
"I'm also honoured to use this partnership to deepen my longstanding commitment to expand opportunities for diverse individuals and foster greater equity and inclusion in the industries we serve. This is an incredible new platform to take the disruption we've achieved together to a whole new level."
Neither Abloh nor Arnault offered any further details about their upcoming ventures, though indicated they are planning to leverage their individual expertise to "launch new brands and partner with existing ones in a variety of sectors beyond the realm of fashion".