Drake Sells Majority Stake In OVO To Authentic Brands Group

The deal gives Authentic a 51% stake in OVO’s intellectual property while the hip-hop superstar retains a significant ownership position and creative control.

Aubrey “Drake” Graham is expanding October’s Very Own (OVO) into an even bigger global business.

Authentic Brands Group announced on Aug. 27 that it acquired a majority stake in OVO’s intellectual property, while the rap icon will retain a significant ownership stake and a role in its creative direction. The move adds Graham’s Toronto-based fashion and lifestyle label to a portfolio that includes Reebok, Champion, Kevin Hart, Shaquille O’Neal, and Muhammad Ali. Financial terms of the transaction were not disclosed.

According to Afrotech, Authentic owns 51% of OVO’s intellectual property, while Drake retains 44% and Vince Holding Corp. owns the remaining 5%. Vince also acquired OVO’s operating business and will serve as its core apparel and retail licensee, overseeing design, product development, merchandising, and stores.

OVO, which was founded by Drake, Oliver El-Khatib, and Noah “40” Shebib, has become one of the most recognized brands in contemporary streetwear. It’s known for its owl logo, black-and-gold aesthetic, premium apparel, and accessories. It currently operates 12 flagship stores across Canada, the United States, and the United Kingdom, along with a global e-commerce platform.

For Drake, the acquisition marks OVO’s evolution from a celebrity-backed fashion label into a larger licensing and global retail business.

“We’re just a couple kids from Toronto who started something we believed in. Here we are 20 years later, same kids with bigger dreams,” Graham said in a statement. “Authentic and VNCE are the perfect partners to help us continue to grow.”

The new structure also creates a growth opportunity for Vince, which plans to expand OVO’s U.S. retail footprint with three stores targeted for next year and wholesale distribution at major retailers beginning in 2027.

“Few brands combine influence, elevated style and approachability the way OVO does,” Vince CEO Brendan Hoffman said. “OVO’s creative and design identity remains its own, and our role is to support that vision and bring it to more consumers around the world.”

For Authentic, OVO adds another creator-led cultural property to a portfolio spanning fashion, sports, entertainment, and lifestyle. The company says its brands generate more than $38 billion in annual systemwide retail sales through more than 1,700 licensees and strategic partners across 150 countries.

Jamie Salter, Authentic’s founder and executive chairman, said the company sees room to take OVO into new markets and businesses while maintaining the identity that helped build its following.

“We are proud to welcome OVO to Authentic and to expand our partnership with VNCE, whose operating expertise makes them an ideal partner to grow the business,” he said. “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.”