Authentic Brands Group has acquired a significant interest in the intellectual property of Drake’s OVO brand.

Authentic Brands Group (ABG) has announced its acquisition of a majority stake in the intellectual property of OVO, the lifestyle brand co-founded by Canadian rapper Drake. This strategic move is set to expand OVO’s global reach and influence in the fashion industry.

As part of the deal, Vince Holding Corp., a partner within the Authentic network, has taken over OVO’s operating business. Vince Holding Corp. will now be responsible for the brand’s design, product development, merchandising, and retail operations. This collaboration aims to enhance OVO’s market presence and streamline its business operations.

Drake, known for his influence in both music and fashion, co-founded OVO in 2012. The brand has since grown into a cultural phenomenon, known for its distinctive owl logo and streetwear collections. The partnership with ABG is expected to leverage the brand’s existing popularity and drive further growth.

Authentic Brands Group, a global brand development, marketing, and entertainment company, has a history of acquiring and managing well-known brands. The addition of OVO to its portfolio aligns with its strategy to diversify and strengthen its presence in the lifestyle and fashion sectors.

While financial details of the transaction have not been disclosed, the partnership is anticipated to bring new opportunities for OVO, including potential collaborations and expanded retail channels.

OVO’s integration into ABG’s portfolio is a significant step in the brand’s evolution, promising to enhance its global footprint and capitalize on Drake’s widespread appeal. The collaboration is poised to bring fresh energy and innovation to the brand, aligning with current market trends and consumer demands.