Fashion’s largest conglomerate LVMH have announced the purchase of a 60 percent majority stake in Virgil Abloh‘s Off’-White. Almost ten years after it was founded, initially under the name PYREX VISION, the label will now join a brimming portfolio of creative businesses under LVMH ownership.

Abloh will stay as owner of the remaining 40 percent share, while the New Guards Group, who became the brand’s parent organisation in 2019, will continue as operating partner. The move signals an expansion in Abloh’s role as creative director, with the designer expected to help launch new brands and partner existing ones in sectors that extend beyond merely fashion and include luxury and lifestyle.

As the current artistic director of Louis Vuitton men’s, another jewel in the LVMH collection, the restructure is designed to stimulate the attention of Gen Z customers as well as trial new, collaboration-led business models. Abloh’s previous successful collaborations with the likes of Mercedes, Evian and Ikea make him the ideal candidate for the LVMH business model, which sees them develop their talents internally through partnerships with other portfolio brands before using them to expand into other sectors.

“We have already had the privilege of witnessing Virgil’s exceptional creativity and vision through his work with us at Louis Vuitton,” said LVMH chairman and chief executive Bernard Arnault. “We look forward to supporting Virgil and the team both in driving the growth of Off-White and in working together with Virgil to bring his unique sensibility to a broader range of luxury categories.”