LVMH’s recent acquisition of a 60% stake in designer Virgil Abloh’s Off-White brand has propelled Abloh to a position of significant influence within the luxury industry. He is now considered the “Head of the table” and the godfather of luxury for two primary reasons.
Firstly, Abloh has been given the symbolic title of “Chief Disruption Officer” by LVMH’s Bernard Arnault. This designation grants Abloh the power to shape the creative direction of the entire LVMH empire. Notably, LVMH and Abloh plan to collaborate on launching new brands and working with existing brands in various sectors, extending beyond just fashion. This level of control and influence over multiple brands within a group is unprecedented in the history of modern luxury, surpassing even legendary designers like Karl Lagerfeld, who often worked as a freelancer for different luxury groups.
Secondly, Abloh embodies the essence of the new luxury as a metaverse unto himself. Originating from the United States, he represents progressivism, inclusivity, environmentalism, intersectional feminism, and body positivity. His image and ideology make him the epitome of contemporary luxury, designed to appeal to younger buyers, particularly millennials and Gen Z, from Miami to Shanghai. Abloh has become the face and figurehead of this politically engaged form of luxury, and his influence cannot be overstated.
Drawing a parallel to Karl Lagerfeld, who was the embodiment of global luxury in the 2000s, it is evident that luxury seeks to fill any void that arises. With Abloh, luxury has found its successor to Kaiser Karl. He is the new king of luxury, King Virgil Abloh I.
Useful links:
– LVMH takes 60% stake in Virgil Abloh’s Off-White
– What Virgil Abloh’s New Role at LVMH Means for the Luxury Giant
