LVMH sold luxury-streetwear brand Off-White to New York-based brand management company Bluestar Alliance for an undisclosed sum.

French luxury goods company LVMH has sold its stake in the streetwear label Off-White three years after the death of the brand's founder, Virgil Abloh. New York–based brand management company Bluestar Alliance now owns LVMH's stake.

Weeks after its debut NYFW show, the brand will now sit alongside Bluestar-owned Scotch & Soda, Hurley and Catherine Malandrino.

LVMH sold luxury-streetwear brand Off-White to New York-based brand management company Bluestar Alliance for an undisclosed sum, three years after its first investment in the label founded by American designer Virgil Abloh.

French luxury group LVMH has sold the streetwear brand Off-White founded by the late designer Virgil Abloh to a brand management company. LVMH would not disclose the terms of the deal with New-York based Bluestar Alliance,

Louis Vuitton Moët Hennessy(LVMH) has sold Off-White LLC to brand management company Bluestar Alliance, marking a significant transition for the luxury fashion brand Virgil Abloh founded in 2012. Women’s Wear Daily reported that while the financial terms of the deal remain undisclosed,

Shares of LVMH Moët Hennessy Louis Vuitton, or LVMH ($FR:MC), fell over 1% as of writing after it agreed to sell Off-White LLC to the U.S.-based

Bluestar Alliance owns, manages, and markets a portfolio of consumer brands ranging from Hurley, Scotch & Soda and Bebe, to Elie Tahari, Catherine Malandrino and Nanette Lepore, among others.