Drake Sells Majority Stake In OVO’s Intellectual Property To Authentic Brands Group

Drake, Oliver El-Khatib, and Noah “40” Shebib. had announced Authentic Brands Group has acquired a majority stake in OVO’s intellectual property. As part of the deal, Drake, to be clear, “will retain a significant ownership stake” while also working with Authentic in the continued shaping of the brand’s creativity identity, per press notes. “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,” Drake said in a statement shared  “Authentic and VNCE are the perfect partners to help us continue to grow. The deal sees Vince Holding Corp., a.k.a. VNCE, a longtime Authentic partner, taking the reins of OVO’s operating business. This means VNCE will be tasked with overseeing product development, retail, and more. As Authentic founder Jamie Salter sees it, Drake and company “have built something with incredible cultural influence” through OVO, making this union a “significant opportunity” for all involved.

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