Authentic Brands Group (“Authentic”), a global brand and entertainment platform, today announced the acquisition of a majority stake in the intellectual property of OVO, the premium lifestyle brand co-founded by Drake. As the driving force behind OVO, Drake will retain a significant ownership stake and continue shaping its creative vision alongside Authentic.
The partnership builds on Authentic’s proven approach to growing iconic brands and cultural assets through content, experiences and global commerce while preserving the identity and creative vision that define them. OVO joins a portfolio of global sports, fashion, entertainment and lifestyle properties, strengthening Authentic’s position as a platform built to accelerate both heritage brands and the next generation of creator-led brands.
“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,” said Drake.
“OVO has earned a place among the world’s most influential lifestyle brands because it has always stood for something authentic and unmistakable,” said Jamie Salter, Founder and Executive Chairman of Authentic. “Drake and his team have built something with incredible cultural influence. We see a significant opportunity to take that even further, opening new markets, building new businesses and reaching more people around the world without losing what makes OVO, OVO.”
As part of the transaction, Vince Holding Corp., a valued, longstanding partner within Authentic’s global network, has acquired OVO’s operating business and will oversee the brand’s design, product development, merchandising and retail stores. Vince Holding Corp.’s role as OVO’s core apparel licensee reflects Authentic’s model of pairing brands with best-in-class operators to drive long-term growth.
“Few brands combine influence, elevated style and approachability the way OVO does,” said Brendan Hoffman, Chief Executive Officer of Vince Holding Corp. “We are proud that Authentic has chosen us as their partner and we are energized by the trust that comes with it. 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.”
Together, Drake, Authentic and Vince Holding Corp. bring complementary strengths to OVO’s global expansion, creating a foundation to extend the brand’s cultural influence, reach new audiences and build new businesses worldwide.
