Authentic Brands Group announced on August 27 that it has acquired a majority stake in the intellectual property of OVO, the Toronto label Drake co-founded. HotNewHipHop reported Authentic's stake at 51 percent, and Spate reported the full split as 51 percent to Authentic, 44 percent to Drake and 5 percent to Vince Holding Corp. (Nasdaq: VNCE). No transaction value was disclosed.
The structure separates the brand's IP from its day-to-day business. Authentic holds the trademarks and will license them; Vince acquires the operating business behind OVO's retail stores and becomes the core apparel licensee, taking over design, product development and merchandising worldwide. Drake continues to direct the brand's creative vision. OVO's chief executive is Drex Jancar.
What the June reporting said
In June, Uristocrat reported on talks over a 50 percent stake in the OVO apparel brand, with Puck News reporting negotiations with an unnamed licensing company. The completed deal is 51 percent to Authentic rather than the even split reported in June, leaving Drake a minority holder at 44 percent.
As of that June reporting, OVO generated more than $50 million in annual sales, and Applied Real Intelligence (A.R.I.) had extended a secured term loan and convertible note to the brand earlier in 2026. Digital Music News tied the Authentic sale to that debt position.
OVO's footprint going in
OVO — October's Very Own — began in 2008 as a blog and music collective and launched apparel around 2011. It was co-founded by Drake, Oliver El-Khatib and Noah "40" Shebib, and is known for its owl logo and black-and-gold palette. Authentic's release puts the brand at 12 flagship stores plus worldwide e-commerce, with locations including Toronto, New York, Los Angeles, Las Vegas and London.
The brand's product line has run from $12 accessories to a $5,000 leather coat with 24-karat gold hardware, with most pieces between $45 and $168. OVO also carries licensing deals with the NFL, NBA, MLB, NHL, MLS, Disney, PlayStation, Chelsea FC, WWE and BAPE, along with a partnership with Nike's Jordan Brand signed in 2013 and the Nocta sub-label launched with Nike in 2020. Drake's business interests have extended well past apparel; Uristocrat reported in July on a 65-year-old Texas saddle shop whose trademark is tied to him.
The expansion plan
The companies plan to expand OVO through new stores, e-commerce and potentially wholesale relationships with major department stores, per Spate — OVO product has to date sold through its own stores and site rather than at wholesale. Authentic's portfolio drives more than $38 billion in annual systemwide retail sales.
Drake, in the announcement: "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. Authentic and VNCE are the perfect partners to help us continue to grow." Authentic founder and executive chairman Jamie Salter said OVO "has earned a place among the world's most influential lifestyle brands." Vince chief executive Brendan Hoffman said few brands "combine influence, elevated style and approachability the way OVO does."
Drake released his ninth studio album, Iceman, in May 2026.
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