Drake will continue to shape the creative vision of the company he co-founded while scaling globally. Authentic Brands Group’s portfolio includesĀ Sports IllustratedĀ magazine and the personal brands of Elvis Presley and Shaquille O’Neal, among others.
Authentic Brands Group has announced the acquisition of a majority stake in the intellectual property of October’s Very Own, also known as OVO, the lifestyle brand and apparel company co-founded by Drake. The Toronto rapper will retain a significant ownership stake and remain involved with the brand as its driving force, continuing to shape its creative vision. Vince Holding Corp. (VNCE), a longtime partner of Authentic, will be taking over OVO’s operating business, handling clothing design, product development, merchandising and retail stores.
The chart-topping rapper co-founded OVO in 2008 with his close friends and collaborators, entrepreneur Oliver El-Khatib and producer Noah “40” Shebib, originally as a blog and lifestyle movement. The brand went on to become a Canadian staple worldwide, notably through its signature black-and-gold owl logo. It made major expansions into high-end clothing and streetwear. The OVO Sound label also spun off from that brand.
In addition to its online store, OVO runs twelve flagship stores across Canada, the U.S. and the U.K., with locations in Toronto, New York, and London, England. The brand has fostered collaborative relationships with some of the world’s biggest brands and institutions, curating several high-profile collections in tandem with the likes of MLB, New Era, UFC and the NBA, including an instant-classic merchandise capsule celebrating the Toronto Raptors’ 2019 NBA championship title.
Authentic Brands Group is a major licensing company in the U.S. whose portfolio includes the ownership of major brands likeĀ Sports IllustratedĀ magazine, Champion and Nautica, as well as the licensing for the estates of celebrity legends Elvis Presley, Marilyn Monroe and Muhammad Ali. Now, it’s taking on one of Canada’s biggest brands, whose global success has long been grounded in its hometown of Toronto and the city’s essence and culture.