Authentic Brands Group Acquires Majority Stake in Drake’s OVO Lifestyle Brand

Authentic Brands Group has purchased a controlling interest in OVO, the popular lifestyle and apparel company co-founded by Canadian rapper Drake. The acquisition marks a significant expansion of the conglomerate’s portfolio in celebrity-backed consumer brands.

27 Aug, 12:20 — 27 Aug, 13:31

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Why this matters

This acquisition signifies a major move in the intersection of celebrity and retail, as Authentic Brands Group, known for revitalizing heritage brands, takes a significant stake in a popular lifestyle brand co-founded by global music superstar Drake. The deal highlights the increasing value of influencer-backed brands and ABG's strategy to expand its portfolio with contemporary, high-profile names.

Key entitiesAuthentic Brands Group Drake OVO Vince Holding Corp.

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Moderate (27/100)

2 sources— more sources would strengthen this score15/33

Spectrum spread— 2/5 buckets covered8/33

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investing-com

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Geographic diversity— 1 region4/34

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Sources

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hollywood-reporterMostly Factual15h ago

Authentic Brands Group Acquires Drake’s Lifestyle Brand OVO

The licensing firm will work with Vince Holding Corp. on products, with Drake continuing to hold an ownership stake and helping to shape its creative vision.

By Alex Weprin

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investing-com17h ago