Bluestar Alliance Set to Continue Virgil Abloh’s Legacy in Fashion Industry
- LVMH sells Off-White to Bluestar Alliance
- Virgil Abloh’s legacy to be carried forward by Bluestar Alliance
- Financial terms undisclosed
Luxury goods conglomerate LVMH has sold streetwear brand Off-White, founded by the late Louis Vuitton artistic director Virgil Abloh, to New York-based brand management company Bluestar Alliance. Established in 2013, Off-White aimed to define the ‘grey area’ between black and white as a color. In 2021, LVMH acquired a majority stake before Abloh’s passing in November of the same year. Bluestar Alliance, founded by Joey Gabbay, expressed pride in acquiring Off-White, stating that Virgil Abloh’s visionary approach to fashion and ability to fuse street culture with high fashion aligns with their core values. The financial terms of the transaction remain undisclosed.
Factuality Level: 10
Factuality Justification: The article provides accurate information about the sale of Off-White brand from LVMH to Bluestar Alliance and includes quotes from Joey Gabbay, CEO of Bluestar Alliance, expressing their commitment to continue Virgil Abloh’s legacy. It also gives a brief background on the brand and its founder.
Noise Level: 3
Noise Justification: The article provides relevant information about the sale of Off-White brand from LVMH to Bluestar Alliance and quotes from Joey Gabbay, CEO of Bluestar Alliance. However, it lacks in-depth analysis or exploration of the consequences of this decision on the fashion industry or the impact of Virgil Abloh’s legacy.
Financial Relevance: Yes
Financial Markets Impacted: LVMH and Bluestar Alliance
Financial Rating Justification: This article discusses the sale of a luxury streetwear brand, Off-White, which was previously owned by LVMH. The transaction between these two companies impacts their financial markets and operations.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
www.retailsector.co.uk 
