Authentic Brands Group has acquired a majority stake in OVO, the lifestyle brand co-founded by Drake, marking the latest expansion for the New York-based intellectual property company. Drake will retain a substantial ownership interest and continue to guide the brand’s creative direction, according to a statement on Thursday.
Vince Holding Corp. (NASDAQ: VNCE) simultaneously acquired OVO’s operating business and will serve as the brand’s core apparel licensee. Vince will oversee design, product development, merchandising and retail operations, including OVO’s 12 flagship stores and global e-commerce platform.
The transaction underscores Authentic Brands’ strategy of acquiring iconic consumer brands and licensing their operations to specialized partners. The company, which owns more than 50 brands including Reebok, Champion, Sports Illustrated, Brooks Brothers and Nautica, operates through over 1,700 licensees across 150 countries and generated more than $38 billion in annual systemwide retail sales in its most recent reporting period.
OVO, founded in 2006 by Drake, Oliver El-Khatib and Noah Shebib, has grown into a globally recognized lifestyle label distinguished by its owl logo and signature black-and-gold aesthetic. Vince Holding, which runs 42 full-price stores, 12 outlets and an e-commerce platform, will now manage OVO’s apparel production and distribution under the new licensing agreement.
Jamie Salter, founder and executive chairman of Authentic Brands Group, said OVO’s authenticity and cultural resonance had earned it a place among the world’s most influential lifestyle brands. Drake, in a separate statement, reflected on the brand’s journey from Toronto to global prominence.
