In Canada: OVO Sells Majority Stake to Authentic Brands Group, Drake Retains Significant Ownership

Authentic Brands Group has acquired a majority stake in October’s Very Own (OVO), the lifestyle brand founded by Canadian rapper Drake. The Toronto-born artist will continue to hold significant ownership and play a key role in shaping OVO's creative direction. Vince Holding Corp., a longtime partner of Authentic, will now manage OVO's day-to-day operations, overseeing clothing design, product development, merchandising, and retail stores.

Established in 2008 by Drake, entrepreneur Oliver El-Khatib, and producer Noah "40" Shebib, OVO began as a blog and lifestyle movement before growing into a globally recognized Canadian brand. Known for its iconic black-and-gold owl logo, the brand has expanded into high-end clothing, streetwear, and the OVO Sound music label. OVO operates twelve flagship stores across Canada, the U.S., and the U.K., and has collaborated with major brands such as MLB, New Era, UFC, NBA, and the Toronto Raptors.

Jamie Salter, founder and executive chairman of Authentic Brands Group, expressed optimism about the acquisition, stating that the company sees a significant opportunity to expand OVO's market reach while preserving its authentic and unmistakable cultural influence. Authentic Brands Group is a prominent licensing company in the U.S., with stakes in brands like Sports Illustrated, Champion, Nautica, Elvis Presley, Marilyn Monroe, and Muhammad Ali.