LVMH has been in on-and-off-talks with Farfetch over the past few months about acquiring the license to manufacture and distribute the fashion brand Off-White, several industry sources said. Founded by former Louis Vuitton menswear creative director Virgil Abloh in 2013, Off-White suffers from underinvestment by Farfetch, which owns the license through its New Guards Group (NGG) unit.
LVMH owns only the trademark name, not the license, and is unhappy about seeing the value of its asset decline. Lossmaking Farfetch has had to shed staff and put many expansion projects on hold to save money, as Miss Tweed reported last month.
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