Off-White looms large in both the fashion imagination and Farfetch’s finances.
Moët Hennessy Louis Vuitton an additional stake in Off-White, giving the luxury giant a controlling 60 percent interest in the brand.
Michael Burke, former chairman and chief executive officer of Louis Vuitton, lauded the relationship at the time. and, at times, positively surprised at how they have taken Virgil’s then-brand and then turned it into a very, very successful business,” Burke said. “There are very, very few that have achieved what they have achieved. So we wouldn’t be doing this deal if we thought the first thing we needed to do was changing a key partner.
Clearly, Farfetch is looking to replicate some of the magic that helped build Off-White at other brands. At the Bank of America Consumer & Retail Conference on Monday, Farfetch’s chief financial officer, Elliot Jordan, pointed to Reebok’s upcoming launch into luxury as an “exciting opportunity.” “We’ve done a lot of collaborations already with Off-White and Palm Angels and just with some of the competing brands,” Jordan said. “And therefore we would expect to do the same with Reebok, which will grow their business next year and in the margins as well.
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