Drake's OVO Brand Joins Shaq & Hart at ABG

Global brand and entertainment platform Authentic Brands Group (ABG) has acquired a 51 percent stake in the intellectual property of Drake's OVO lifestyle brand. This acquisition positions OVO alongside other prominent brands within the ABG portfolio, which includes those of Shaquille O'Neal and Kevin Hart. Drake will retain a 44 percent ownership in his brand, with Vince Holding Corp. holding the remaining 5 percent.

Vince Holding will assume the role of OVO's core apparel and retail licensee, taking charge of global design, product development, and merchandising. The company will also acquire the operating business for OVO's retail stores. OVO, cofounded by Canadian artist Drake, entrepreneur Oliver El-Khatib, and producer Noah "40" Shebib in 2008, offers unisex sportswear and operates eight stores in Canada, three in the U.S., and one in London.

Drake expressed enthusiasm for the partnership, stating, "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. Authentic and Vince are the perfect partners to help us continue to grow." Vince Holding already has an existing relationship with ABG, having entered into an agreement for ABG to acquire the Vince brand's intellectual property in 2023.

OVO will operate as a distinct division under ABG, with its existing Toronto-based creative and design teams remaining in place. Vince Holding will manage production and back-of-house operations, aiming for significant business growth. This expansion strategy includes opening new stores in the U.S. and developing wholesale channels. Brendan Hoffman, CEO of Vince Holding Corp., described the move as "really a growth story" with a "blank canvas" for future development.