Drake makes major business move for his OVO brand
Drake’s deal for OVO did not mean he did not retain any control
OVO, or October’s Very Own, is a brand Drake built nearly twenty years ago with Oliver El-Khatib and Noah “40” Shebib.
But now he has sold; Authentic Brand Group bought a majority stake in the company’s intellectual property.
This means the brand’s name, trademarks, branding, and logos are now connected to ABG.
This does not mean the Toronto rapper has no control over it; rather, it is completely different.
In the deal, according to Complex, the One Dance hitmaker still retains a key portion of the brand and also has a say over OVO’s identity and creative decisions.
But here it begs the question: Who will actually run OVO then?
Per the report, it is Vince Holding Corp or VNCE.
The company is already working with Authentic Brand Group and will take over OVO's daily operations.
In general, the company will handle the brand’s product development, retail operations, and more.
