LVMH announced on Monday it has sold Off-White LLC, the company that owns the Off-White brand, to New York-based management firm Bluestar Alliance.

Terms of the deal were not disclosed.

The news was bizarrely dropped on the birthday of Off-White’s late founder Virgil Abloh, who created the luxury streetwear brand in 2013.

In a press release, the French luxury giant said it is “proud of the legacy that Off-White has built under Virgil Abloh’s visionary leadership,” adding that Bluestar Alliance, owner of Scotch & Soda and Hurley, among other brands, is the “perfect partner to carry that legacy forward.”

“Bluestar Alliance shares our commitment to respect creative integrity, and we are confident that, under their stewardship, Off-White will continue to innovate while respecting the spirit and values of the brand,” continued the Parisian luxury firm, which bought a majority stake in Off-White LLC in 2021, after holding a minority stake in Off-White’s trademark entity.

As part of that new agreement, LVMH increased its stake in Off-White to 60 percent, with Abloh retaining a 40 percent interest and continuing as creative director of the label. At the time, Abloh had also been at the helm of LVMH’s Louis Vuitton menswear since 2018, and retained that role until his sudden passing in late 2021. Ibrahim Kamara was appointed creative director of Off-White following Abloh’s death, in 2022. Pharrell Williams succeeded Abloh at Vuitton.

“Virgil was a creative pioneer who had a profound impact on the global fashion industry and creative community. Acquiring Off-White represents a unique opportunity for Bluestar Alliance to honor and build upon the enduring legacy of Virgil Abloh,” said Joey Gabbay, CEO of Bluestar Alliance, which also operates Bebe, Elie Tahari, Kensie, Justice, and Catherine Malandrino. 
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“His visionary approach to fashion resonates deeply with our core values. Abloh’s ability to fuse street culture with high fashion has laid a powerful foundation that aligns with our vision of fostering innovation while embracing diversity. The acquisition of Off-White, and the opportunity to provide strategic investment and build upon our global network of resources will allow for the continuation of the cultural and creative momentum that Virgil ignited, one that Bluestar Alliance is committed to carrying forward.”

Neither LVMH nor Bluestar provided details about the design future of Kamara.

The deal comes just days after LVMH partnered with Remo Ruffini to increase his stake in Moncler.