Drake has sold a large portion of his OVO brand to Authentic Brands Group.

Aubrey "Drake" Graham, the renowned rapper and entrepreneur, has been making moves to expand his fashion and lifestyle brand, October's Very Own (OVO), into a global powerhouse. This exciting development was announced on August 27 by Authentic Brands Group, who revealed that they have acquired a majority stake in OVO's intellectual property. Despite this acquisition, Drake will still hold a significant ownership stake in the brand and will continue to play a crucial role in its creative direction.

This new partnership has added OVO to a prestigious portfolio of brands such as Reebok, Champion, Kevin Hart, Shaquille O'Neal, and Muhammad Ali. While the exact financial details of the deal were not disclosed, it has been reported that Authentic now owns 51% of OVO's intellectual property, with Drake retaining 44% and Vince Holding Corp. owning the remaining 5%.

Additionally, Vince has also acquired OVO's operating business and will serve as its core apparel and retail licensee, overseeing design, product development, merchandising, and stores. OVO, which was co-founded by Drake, Oliver El-Khatib, and Noah "40" Shebib, has become a highly recognizable brand in the world of contemporary streetwear. Its iconic owl logo, sleek black-and-gold aesthetic, and high-quality apparel and accessories have gained a loyal following.

Currently, OVO has 12 flagship stores across Canada, the United States, and the United Kingdom, as well as a global e-commerce platform. This exciting acquisition marks a significant milestone in OVO's journey from a celebrity-backed fashion label to a larger licensing and global retail business. In a statement, Drake expressed his gratitude and excitement for this new chapter, stating, "We're just a couple of 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." The new partnership also presents a growth opportunity for Vince, who plans to expand OVO's retail presence in the United States. They are targeting three new stores next year and plan to distribute OVO's products at major retailers starting in 2027.

Brendan Hoffman, CEO of Vince, expressed his admiration for OVO's unique blend of influence, style, and approachability, stating that "few brands combine these elements the way OVO does." For Authentic, this partnership adds yet another influential and culturally significant brand to their already impressive portfolio. The company boasts an annual systemwide retail sales of over $38 billion through a network of more than 1,700 licensees and strategic partners across 150 countries. Jamie Salter, Authentic's founder and executive chairman, shared his excitement for the future of OVO, stating, "We see significant opportunity to introduce OVO into new categories, channels, and markets while staying true to the creative vision and community that have made the brand so special." Finally, this partnership also marks the launch of FanArcade's latest venture, "Release The Iceman," a game designed specifically for Drake's fans.

This exciting new development showcases the potential for OVO to expand into new markets and ventures while staying true to its unique identity. With the support of Authentic and Vince, OVO is poised for even greater success in the years to come.