Virgil Abloh has received his seat at the table. The head of Louis Vuitton, fashion designer, and DJ has sold a 60% majority stake in his Off-White luxury to LVMH, cementing his spot as one of the most powerful Black executives in the world.
Abloh, who currently holds a position as artistic director of Louis Vuitton men’s wear, will assume a larger role in the company, working across their wine and spirits and hospitality brands.
“I’m getting a seat at the table,” Virgil said to The New York Times.
The venture marks a new moment for LVMH, which sees its shares up 60 percent this year.
“We’re not trying to emulate a model that already exists,” Michael Burke, the chief executive of Louis Vuitton, said of Mr. Abloh’s new role. “It’s more like what Bernard Arnault did when he bought Dior and decided to create a federation of luxury brands.”