The 31-year-old musician’s OVO (October’s Very Own) brand is likely to hit $50 million in sales this year, according to Business of Fashion. The streetwear label sells T-shirts, hoodies, sweatpants and accessories adorned with the star’s signature owl logo, and priced from about $12 to $168.
OVO has also teamed up with Nike’s Jordan brand, Canada Goose and more on expensive limited-edition items, like a $5,000 black leather coat with 24-karat gold hardware.
“Every collaboration we’ve done with OVO has been a strong success, and it often sell out in hours, if not minutes, across all of our channels,” Canada Goose’s chief executive Dani Reiss told the publication, acknowledging that “not all celebrity clothing lines work out.”
Not too shabby for a brand that launched, according to Drake’s business partner Oliver El-Khatib, “out of necessity.”
“There was a lot of traveling in different climates, so we needed practical, versatile garments that looked stylish while also being recognizable to security as well as at business meetings,” El-Khatib told BoF, adding the next step for the label is to open more stores — particularly in Drake’s native Canada.