Drake Sells Majority Stake in OVO as Authentic Brands Group Takes Control

Drake’s OVO empire is entering a major new chapter. Authentic Brands Group has acquired a majority stake in the intellectual property of October’s Very Own, while the Toronto superstar keeps significant ownership and creative control.

Drake is handing over majority control of one of his biggest business creations.

Authentic Brands Group has announced a deal to acquire a majority stake in the intellectual property of October’s Very Own (OVO), the premium lifestyle and apparel brand co-founded by Drake, Oliver El-Khatib and Noah “40” Shebib.

The deal gives Authentic a powerful new piece of music and fashion culture, but Drake is not walking away from OVO. The rapper will retain a significant ownership stake and continue playing a central role in the brand’s creative direction.

The transaction could mark one of the biggest moves yet in Drake’s evolution from chart-topping musician into a global entertainment entrepreneur.

Drake Keeps a Major Role in OVO

OVO began in 2008 as a blog and lifestyle movement connected to Drake and his Toronto creative circle. It eventually transformed into an international fashion brand recognized by its distinctive black-and-gold color palette and owl logo.

Now, nearly two decades later, Authentic plans to use its global licensing and retail network to push OVO into new markets.

“We’re just a couple kids from Toronto who started something we believed in,” Drake said in announcing the partnership. “Here we are 20 years later, same kids with bigger dreams.”

He described Authentic and Vince Holding Corp. as the right partners to help OVO continue expanding.

The arrangement is designed to preserve the identity that made OVO successful while giving it access to a much larger international commercial platform.

Vince Takes Over OVO’s Operations

Authentic is partnering with Vince Holding Corp. (Nasdaq: VNCE) to operate OVO’s apparel business.

Vince will oversee key areas including clothing design, product development, merchandising and retail stores. The company becomes OVO’s core apparel licensee under Authentic’s ownership model.

That means an established fashion operator will handle the day-to-day work of turning OVO’s creative identity into products, while Drake and his team continue to influence the brand’s creative vision.

Vince CEO Brendan Hoffman said OVO combines cultural influence, elevated style and accessibility, adding that the company intends to support rather than replace the brand’s creative identity.

From Toronto Blog to Global Fashion Brand

OVO has grown far beyond its music roots.

The company currently operates 12 flagship stores across Canada, the United States and the United Kingdom, including locations in Toronto, New York and London.

Its collaborations have included major sports and cultural names such as the NBA, MLB, New Era and UFC. Its Toronto roots have remained central to the brand even as OVO expanded internationally.

OVO CEO Drex Jancar has previously described that connection as fundamental to the company’s identity.

The brand has also developed alongside Drake’s music empire, with OVO Sound emerging as a separate record-label operation.

Authentic Sees Huge Global Potential

For Authentic founder and executive chairman Jamie Salter, the OVO acquisition is about taking an already influential brand to an even larger audience.

“OVO has earned a place among the world’s most influential lifestyle brands,” Jamie Salter said, pointing to Drake and his team’s cultural influence.

Authentic owns or controls interests in a broad collection of fashion, sports and entertainment properties and operates through a vast global network of licensees and strategic partners.

The company says its brands generate more than $38 billion in annual systemwide retail sales across more than 150 countries.

OVO now becomes part of that global machine.

OVO Deal Comes After Financial Dispute

The ownership announcement also follows legal headlines earlier this year.

A Florida-based lending company, Applied Real Intelligence, alleged that OVO failed to repay a loan of approximately C$5.2 million and later claimed additional money after the alleged default.

The dispute emerged around the same period that OVO was reportedly negotiating its partnership with Authentic.

The new deal nevertheless positions the brand for another phase of expansion with Drake still firmly attached to the name that helped turn Toronto’s culture into a global fashion statement.

For OVO, the message is clear: the owl isn’t disappearing. It’s going global.