Drake sells majority stake in OVO as brand enters new global era

Drake is making one of the biggest business moves of his career, selling a majority stake in the intellectual property of October’s Very Own (OVO) to Authentic Brands Group.

The Canadian rapper will retain a significant ownership stake and continue to shape the creative direction of the brand, while Authentic takes on a larger role in expanding OVO internationally.

The deal marks a major evolution for the label, which started as a small Toronto-based project and has grown into one of the most recognisable celebrity-founded lifestyle brands in the world.

OVO enters a new chapter

Founded by Drake, Oliver El-Khatib and Noah “40” Shebib, OVO developed from a lifestyle platform into a full fashion and cultural brand known for its owl logo, black-and-gold aesthetic and close connection to music.

Over the years, the company expanded into apparel, accessories, retail stores and major collaborations, building a strong identity around Drake’s global influence.

Today, OVO operates 12 flagship stores and has an international e-commerce presence.

The new partnership with Authentic is designed to take that expansion significantly further.

Drake is not stepping away

Despite the sale, Drake is not leaving OVO.

He will remain an owner and continue to play an important role in defining the brand’s creative identity.

For the artist, the deal appears to be less about exiting the company and more about gaining access to a much larger global infrastructure.

Drake reflected on how far the business has come, describing OVO as something that began with a small group of friends in Toronto and has developed over roughly two decades into a global brand.

That original identity is expected to remain central even as the company grows.

Authentic Brands Group takes majority control

Authentic Brands Group has built its business around acquiring and developing globally recognised fashion, sports and entertainment properties.

Its portfolio includes brands and personalities such as Reebok, Champion, David Beckham, Shaquille O’Neal, Sports Illustrated, Elvis Presley, Marilyn Monroe, Juicy Couture and Brooks Brothers.

The company works with more than 1,700 licensees and partners across approximately 150 countries, with its portfolio generating more than $38 billion in annual retail sales worldwide.

For OVO, that network could provide access to markets and distribution channels that would have been difficult to build independently.

Vince Holding Corp. takes over operations

The deal also introduces another major partner.

Vince Holding Corp. has acquired OVO’s operating business and will oversee key areas including design, product development, merchandising and retail operations.

Vince will also become OVO’s core apparel and retail licensee.

At the same time, the company will own a 5 per cent stake in OVO’s intellectual property, alongside Authentic and Drake.

The structure separates the ownership of the brand itself from the day-to-day operation of the business.

Authentic will focus on managing and expanding OVO’s intellectual property, while Vince will handle the practical side of producing, selling and distributing its fashion collections.

OVO could expand far beyond streetwear

One of the most interesting aspects of the deal is the potential for OVO to grow into categories beyond its existing apparel business.

Authentic’s model often involves expanding brands through licensing, new products, international distribution, content and experiences.

That could allow OVO to evolve from a premium streetwear label into a broader global lifestyle platform.

The company is already closely connected to music, sport and pop culture, giving it a strong foundation for future expansion.

From Toronto culture to global business

OVO has always been closely linked to Drake’s hometown.

Its identity has been shaped by Toronto, the city’s music scene and the wider cultural world surrounding the rapper.

That connection helped OVO become more than traditional celebrity merchandise.

Instead, it developed its own community, visual language and status within streetwear culture.

Its collaborations and relationship with brands, sports organisations and artists have helped turn the owl logo into an internationally recognised symbol.

The challenge now will be to expand without weakening that identity.

Celebrity brands become serious assets

The OVO transaction also reflects a wider shift in how celebrity-founded companies are valued.

Brands built by musicians, actors and athletes are increasingly being treated as long-term intellectual property assets rather than temporary extensions of fame.

The strongest of these businesses can outgrow the celebrity who originally created them and become independent global platforms.

For Authentic, OVO offers something particularly valuable: a brand with an established audience, strong cultural relevance and a founder who remains deeply connected to its identity.

A bigger future for OVO

Drake may have sold majority control of OVO’s intellectual property, but the deal is not the end of his involvement.

Instead, it creates a new structure around the company.

Authentic brings global brand management and licensing expertise. Vince brings retail and fashion infrastructure. Drake remains the cultural and creative force behind the name.

Nearly two decades after OVO emerged from Toronto, the brand is now preparing for its most ambitious expansion yet.

What began as an extension of Drake’s creative world is becoming a global business — and its next chapter could be considerably larger than anything that came before.