Authentic Brands Group has acquired a majority stake in the intellectual property behind Drake’s OVO brand. The deal brings the streetwear and lifestyle label, which grew out of Drake’s October’s Very Own imprint, into ABG’s portfolio of licensed brands.
As part of the transaction, ABG network partner Vince Holding Corp. has taken over OVO’s operating business, including design, product development, merchandising and retail store operations. Terms of the deal were not disclosed.
Read the full story at Music Business Worldwide.