The deal gives Authentic a 51% stake in OVO’s intellectual property while the hip-hop superstar retains a significant ownership position and creative control.
Aubrey “Drake” Graham is expanding October’s Very Own (OVO) into an even bigger global business.
Authentic Brands Group announced on Aug. 27 that it acquired a majority stake in OVO’s intellectual property, while the rap icon will retain a significant ownership stake and a role in its creative direction. The move adds Graham’s Toronto-based fashion and lifestyle label to a portfolio that includes Reebok, Champion, Kevin Hart, Shaquille O’Neal, and Muhammad Ali. Financial terms of the transaction were not disclosed.
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