Authentic Brands Group Takes Majority Stake in Drake’s OVO

Authentic Brands Group has added October’s Very Own (OVO) to its portfolio, taking a controlling 51% stake in the Canadian streetwear label founded by rapper Drake, whose real name is Aubrey Graham. The financial terms of the deal were not disclosed.

The remaining ownership is split between Drake, who retains 44%, and Vince Holding, which holds 5%. Despite its minority position, Vince will serve as OVO’s primary apparel and retail licensee, overseeing design, product development, and global marketing. Drake will continue to focus on creative direction and his public image.

Vince CEO Brendan Hoffman said the company sees rapid growth potential for OVO, citing Authentic’s infrastructure. Plans include opening new stores in the United States, boosting its online channel, and launching wholesale distribution.

Following the announcement, Vince’s stock rose more than 20% on the stock market. The move is part of Vince’s shift toward a broader multi-brand business model.

Authentic Brands Group, which acquired a majority stake in Vince Holding in 2023, manages a portfolio of more than 50 brands generating annual sales exceeding $32 billion.