LVMH to acquire a 60% stake in Off-White from Virgil Abloh.

LVMH agreed to acquire a 60% stake in Off-White, a streetwear company, from Virgil Abloh, an American designer. Mr. Abloh will serve as creative director of Off-White. Financial terms were not disclosed. The partnership would be used to diversify Off-White's offering and enter markets as cosmetics, homewares and leather goods, according to Mr. Abloh.