Drake Sells Majority Stake In OVO To The Same Group With Ownership Of Shaquille O’Neal’s, Kevin Hart’s, And Muhammad Ali’s Likeness – AfroTech
Authentic Brands Group has acquired a majority stake in the intellectual property of October’s Very Own (OVO), the lifestyle brand co-founded by Drake.
According to Authentic Brand’s press release, Drake will retain a significant ownership stake and continue shaping OVO’s creative vision alongside the company. WWD reports that Authentic acquired 51% of OVO’s intellectual property, while Drake will retain 44% ownership and Vince Holding Corp. (VNCE) will own 5%.
“We’re just a couple kids from Toronto who started something we believed in. Here we are 20 years later, same kids with bigger dreams. Authentic and VNCE are the perfect partners to help us continue to grow,” Drake said in the press release.
Authentic Brands Group Acquires Majority Stake in OVO
OVO was founded by Drake, Oliver El-Khatib, and Noah “40” Shebib. The Canadian lifestyle brand offers premium apparel and accessories and is recognized for its owl logo and black-and-gold aesthetic. According to Authentic, OVO currently has 12 flagship stores and a worldwide e-commerce presence.
As part of the transaction, Vince Holding Corp. acquired OVO’s operating business and will serve as the brand’s core apparel licensee. The company will oversee OVO’s design, product development, merchandising, and retail stores. Authentic said the arrangement follows its model of pairing brands with operators responsible for supporting long-term growth.
The lifestyle brand’s creative and design identity will remain intact, according to Vince Holding Corp. CEO Brendan Hoffman.
“OVO’s creative and design identity remains its own, and our role is to support that vision and bring it to more consumers around the world,” Hoffman said in the press release.
Plans For US Retail Expansion
Based on reporting from WWD, OVO will operate as a separate division, with its existing Toronto-based creative and design teams remaining in place. Vince Holding will manage production and other back-of-house functions.
The company also plans to expand its U.S. retail footprint. As Hoffman told WWD, the initial plan includes opening three U.S. stores next year and adding OVO to major retailers beginning in 2027.
OVO joins an Authentic portfolio that includes more than 50 brands and properties across fashion, sports, entertainment and lifestyle, as AFROTECH™ previously reported. The deal also places Drake alongside other prominent Black cultural figures in Authentic’s portfolio, including Shaquille O’Neal, Kevin Hart, Muhammad Ali, and Prince. According to Authentic, its network includes more than 1,700 licensees and strategic partners across 150 countries, with its brands generating more than $38 billion in annual systemwide retail sales worldwide.
Under the new structure, Drake, Authentic, and Vince Holding Corp. will share roles in OVO’s ownership, creative direction, operations, and planned global expansion.
