Authentic acquires Drake’s OVO, VNCE to lead global expansion

Authentic Brands Group has snapped up a majority stake in October’s Very Own (OVO, the lifestyle brand founded by rapper Drake. The deal will also see involvement from Vince Holding Corp. (VNCE), which will serve as the core apparel and retail licensee in the deal.

As part of the transaction, Authentic will own 51 percent of the business under a newly-created subsidiary overseeing OVO’s intellectual property. Drake will retain a 44 percent stake in the business, while VNCE will own the remaining 5 percent. A portion of the proceeds in the sale of the IP will be used to strengthen the OVO’s balance sheet.

Retail, e-commerce and wholesale expansion on the cards

VNCE has further entered into a license agreement with Authentic, allowing the US retail group to use OVO’s intellectual property to manufacture and sell licensed apparel globally, with Authentic to receive royalty payments. OVO’s existing operating companies, assets and liabilities, including its retail stores, e-commerce platform and wholesale across Canada, the US and the UK will also be owned by VNCE.

Marking the first step in the group’s multi-brand platform strategy, VNCE said it plans to support OVO’s next phase of growth, namely in the US, where the launch of a wholesale business and a store and e-commerce expansion are planned.

For VNCE, the transaction represents an opportunity to access the global streetwear market, while also providing the group with the infrastructure to open stores and venture into wholesale in Canada, where OVO operations are currently based. OVO’s design and creative functions will remain independent.

Ownership speculation confirmed

The news confirms prior speculation over OVO’s ownership, which had come into question earlier this year following reports that the company was facing a lawsuit over allegations of partial debt repayments and contractual breaches.

A.R.I. OVO Growth had first established a financing agreement with OVO in early 2025, injecting funding via separate transactions after deeming the brand as an attractive credit opportunity. Later, however, the firm accused OVO of failing to pay debts on time, and sought litigation in a British Columbia court in an effort to recover around 4.6 million dollars of owed funds, legal fees and other expenses.

The legal dispute escalated following a report by media outlet Puck, which suggested that OVO was mulling a transaction with Authentic. A.R.I. claimed that such discussions should have been disclosed as part of a contractual agreement. OVO has since taken the stance that no further payments to A.R.I. are withstanding.

New categories, channels and markets

Under VNCE and Authentic, plans for OVO revolve around growing the brand’s presence beyond the existing 12 stores it operates across Canada, the US and the UK, alongside its e-commerce platform.

In a statement, Authentic founder and executive chairman, Jamie Salter, said the company was proud to bring OVO under its wing, where it will join other celebrity-fronted labels like David Beckham, Elvis Presley and Shaquille O’Neal.

Salter added: “Together, we see significant opportunity to introduce OVO into new categories, channels, and markets while staying true to the creative vision and community that have made the brand so special. The success we’ve had partnering with VNCE gives us great confidence in their stewardship of OVO’s business and we look forward to exploring future opportunities to utilise the VNCE platform.”

Aubrey ‘Drake’ Graham, who co-founded OVO in 2008 alongside Oliver El-Khatib and Noah ‘40’ Shebib, said Authentic and VNCE were “the perfect partners to help us continue to grow”. Derek ‘Drex’ Jancar currently serves as chief executive officer.