Overview
- Authentic Brands Group acquired a 51 percent stake in the intellectual property of October’s Very Own, a transaction announced on Thursday that leaves Drake with a 44 percent stake and gives Vince Holding a 5 percent IP interest.
- Vince Holding Corp. acquired OVO’s operating business and will serve as the brand’s core apparel and retail licensee responsible for design, product development, merchandising and store operations.
- Companies say OVO’s Toronto creative and design teams will remain intact and Drake will continue to shape the brand’s creative vision while ABG and Vince provide production, retail infrastructure and capital.
- The partners announced plans to open an initial three U.S. stores next year and to begin placing OVO in wholesale channels in 2027, with a portion of sale proceeds earmarked to strengthen the brand’s balance sheet after a June investor lawsuit over unpaid convertible notes.
- The deal follows ABG’s long-standing licensing model of owning celebrity and heritage trademarks and partnering with operators to scale global retail and commerce, a move that could broaden OVO’s reach but will test how the brand preserves its Toronto-rooted identity as it grows.