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On Thursday, the California-based affordable luxury label Vince announced it acquired October’s Very Own or OVO, the 15-year-old Canadian streetwear and lifestyle brand founded by the Grammy Award-winning rapper Aubrey Graham, better known as Drake. Financial terms of the deal were not disclosed.
Under the agreement, Vince Holding Corp. will take over operations for OVO’s current retail and e-commerce business as its core apparel and retail licensee. As for OVO’s intellectual property, Authentic Brands Group (which also owns 75 percent of Vince’s intellectual property) will hold a 51 percent majority stake in OVO’s IP. Drake will retain 44 percent of the IP while Vince owns the remaining 5 percent.
Acquiring OVO is Vince’s first step in building a broader, multi-brand business, where Vince will use its operational infrastructure to support the growth of brands it acquires. Vince’s stock surged 20.66 percent on Thursday in the hours after the acquisition was announced.
“[OVO has] done a lot of good things over the last 15 years, but they also have a lot of opportunities,” Vince’s chief executive officer Brendan Hoffman told The Business of Fashion. “There are a lot of things we could bring to market quite quickly, with the Authentic machinery behind it.”
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Like many of its peers, OVO has been facing some turbulence since streetwear’s peak a decade ago. In June, Puck reported that while OVO generated around $400 million in sales between 2019 and 2024, sales growth has slowed since 2022. According to court documents acquired by Puck, OVO’s business hit $72 million in annual sales in 2024 but also reported an EBITDA loss of $8 million.
Hoffman didn’t disclose OVO’s current revenue but said that the deal now puts OVO on “sound footing.” Vince aims to grow OVO’s business through several new store openings in the US, more marketing around e-commerce, and a launch into wholesale. Currently, OVO is a direct-to-consumer business that operates e-commerce and a network of 12 bricks-and-mortar stores across the US, Canada and the UK. The benefits go both ways: Hoffman added that the acquisition will also help Vince re-launch its business in Canada, where he said they haven’t had much of a business since before the pandemic.
Eric Beder, chief executive and senior research analyst for Small Cap Consumer Research, said the acquisition is receiving a positive response in part because it builds on the strong performance in Vince’s core business. In June, Vince reported that net sales for the first quarter increased 10.5 percent to $64 million. Beder said that performance is attributed to Vince prioritising its core wholesale partners, such as Nordstrom and offering a wide variety of products to a resilient affluent customer base.
“People like the OVO deal. It’s a high-end streetwear business that aligns with Vince’s focus on quality products, best materials, fabrics, and factories,” said Beder.
Beder added that there’s a significant untapped opportunity in a women’s streetwear customer. And with Drake still owning a significant stake in the brand, Beder believes the brand will still be able to maintain its creative approach, public persona and place in culture, while Vince focuses on manufacturing, supply chain and wholesale distribution.
“There’s a lot of stuff where it doesn’t matter if it’s streetwear or contemporary apparel. It’s a widget in terms of the way you manage, run and optimise,” said Hoffman, who adds that there’s no plans for Vince to touch OVO’s creative direction. “Production, I hope and they hope, is someplace with our scale where we can be additive to what they’re doing.”
Editor's Note: This article was amended on Aug. 27, 2026 to clarify that Vince and Authentic Brands Group bought a stake in OVO, rather than purchased OVO outright.
