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#Roommates, Virgil Ablo He is one of the most well-known figures in the fashion industry, thanks to his very popular brand Off-White and his recent performance as the art director of Louis Vuitton-he has only recently completed his biggest fashion achievement to date. It was recently announced that the powerful luxury goods group LVMH has just acquired a majority stake in Off-White, which will make Virgil Abloh one of the most powerful black fashion designers.
@NewYorkTimes reports, in Surprise announcementLVMH confirmed that it has formally acquired a 60% stake in the Off-White fashion brand founded by Virgil Abloh in 2013. The 40-year-old Virgil will retain 40% of the company’s shares and assume a greater role in LVMH-easily realized that in less than 10 years, he is the most powerful and influential in the fashion elite world One of the blacks.
In his expanded position, Virgil will work in various areas under LVMH, including wines and spirits (LVMH owns Kruger, Dom Perignon and Hennessy among the 30 brands) and hotels (more than 50 hotels, including Cipriani and Le Manoir aux Quat’Saisons of Venice, Italy are located in Oxfordshire, England.) He will continue to be the artistic director of Louis Vuitton menswear.
Speaking of this historical business transaction, Virgil Abloh expressed his excitement:
“I sat down at the table. I am very happy to work with LVMH on other possible collaborations-this is the evolution of my good relationship with LVMH, Bernard Arnault, Michael Burke of Louis Vuitton and others. I am also honored to be able to Use this partnership to deepen my long-term commitment to expand opportunities for diverse individuals and promote greater fairness and tolerance in the industries we serve. This is an incredible new platform that can bring The subversion that we have achieved together is raised to a whole new level.”
Similarly, Louis Vuitton CEO Michael Burke (Michael Burke) also acknowledged the importance of cooperation and pointed out that it will “shak up” the entire industry. Although the pandemic has killed many companies financially, LVMH recently pointed out that stock prices have risen by 60% so far this year and 30% from the beginning of 2020, after which COVID-19 has changed everything forever.
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