Authentic buys a majority of OVO's intellectual property while Drake keeps a stake and creative role
Authentic Brands Group announced August 27 that it acquired a majority stake in OVO's intellectual property. Drake retains what the partners call a significant ownership stake and will continue shaping the creative vision. Vince Holding Corp. separately acquired OVO's operating business and will oversee design, product development, merchandising and retail as the main apparel licensee. OVO currently has 12 flagship stores and worldwide e-commerce; price, percentages, governance rights and specific new licenses were not disclosed.
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