Authentic Brands Group Takes Majority Stake in Drake’s OVO

Drake’s October’s Very Own (OVO) is entering a new chapter.

Authentic Brands Group (ABG) has acquired a 51 percent stake in the intellectual property of OVO, the lifestyle brand co-founded by Drake, making the Toronto-born label the latest addition to Authentic’s growing portfolio of celebrity-driven brands.

Drake will retain a 44 percent stake in OVO, while Vince Holding Corp. will hold the remaining 5 percent.

As part of the deal, Vince Holding will become OVO’s core apparel and retail licensee, taking charge of global design, product development and merchandising. The company will also acquire the operating business behind OVO’s retail stores.

Founded in 2008 by Drake—whose real name is Aubrey “Drake” Graham—alongside entrepreneur Oliver El-Khatib and longtime producer Noah “40” Shebib, OVO has evolved from a Toronto-based streetwear label into a global lifestyle brand.

The brand is best known for its signature black-and-gold aesthetic and instantly recognizable owl logo, a nod to Drake’s self-described night-owl lifestyle. OVO, which stands for October’s Very Own, also references the month of Drake’s birth.

Today, the brand offers a range of unisex sportswear, including T-shirts, hoodies and quarter-zips. OVO currently operates eight stores in Canada, three in the United States and one in London. Its business has also expanded into golf, while collaborations have included the UFC and Dsquared2.

“We’re just a couple kids from Toronto who started something we believed in. Here we are 20 years later, same kids with bigger dreams,” Drake said. “Authentic and Vince are the perfect partners to help us continue to grow.”

OVO’s creative identity will remain largely unchanged under the new ownership structure. According to Brendan Hoffman, chief executive officer of Vince Holding Corp., OVO will operate as a separate division, with its existing Toronto-based creative and design teams remaining in place. Vince Holding will oversee production and back-of-house operations.

“This is really a growth story,” Hoffman said.

Part of the proceeds from the transaction will be reinvested into OVO, strengthening the brand’s balance sheet and helping fund its next phase of expansion. That strategy includes opening additional U.S. stores and entering the wholesale market.

Hoffman said the company’s initial plan calls for opening three OVO stores in the United States next year, while the brand is expected to begin appearing at major retailers in 2027.

“We’ve already explored different markets in the U.S.,” Hoffman said. “It’s nice to have a blank canvas.”

For Vince Holding, the partnership also marks an opportunity to expand beyond its traditional fashion positioning and gain a stronger foothold in the global streetwear market.

“We’re excited to get into a new space,” Hoffman said.

The relationship also creates opportunities for Vince to expand into Canada, with Hoffman noting that the company will explore opening Vince stores and pursuing wholesale opportunities in the market.

The partnership builds on an existing relationship between Authentic and Vince Holding. In 2023, Authentic reached an agreement to acquire the intellectual property of the Vince brand, establishing ABG Vince as a subsidiary in which Authentic owns 75 percent and Vince Holding owns 25 percent. Vince Holding subsequently entered into a licensing agreement with Authentic to operate Vince’s wholesale, retail and e-commerce businesses.

For Authentic founder and executive chairman Jamie Salter, OVO represents another opportunity to turn a culturally influential name into a larger global business without compromising its identity.

“What appealed to us about OVO is that it was never just a fashion brand or an entertainment brand,” Salter said. “Drake has built a true lifestyle brand with influence across fashion, music, art and culture, but it’s unmistakably OVO. That’s exactly the kind of brand we at Authentic know how to grow.”

Salter added that Authentic’s goal is to help OVO scale internationally while allowing Drake and his team to maintain creative control over the brand’s identity.

“Our role isn’t to tell him how to do that,” Salter said. “It’s to bring the right partners, relationships and global opportunities to interpret his vision.”

With Authentic’s global platform, Vince Holding’s operational expertise and Drake’s cultural influence behind it, OVO is positioned for its biggest expansion yet—bringing the Toronto-born brand to new markets, retailers and consumers around the world.

And according to Salter, the OVO deal could be the start of a much larger relationship with Drake.

“We’re incredibly excited to be partners with Drake,” he said. “We see OVO as just the beginning of a much larger business relationship.”

Photos: OVO

Source: WWD