The deal will see Vince become OVO’s core apparel and retail licensee, as well as take over all of OVO’s operating assets, including its physical retail stores, e-commerce operations, and wholesale relationships in Canada, the US, and the UK.
This acquisition represents the company’s first expansion of its multi-brand platform strategy beyond its flagship label and supports its ongoing efforts to diversify revenue and earnings by utilising its platform and operational strengths.
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Through this transaction, Vince expects to have access to the expanding global streetwear market and support OVO’s growth in the US through the expansion of its retail stores and e-commerce, utilising Vince’s scale and infrastructure.
OVO will also launch a wholesale business, making use of Vince’s existing relationships with national department store partners.
In addition, the acquisition will provide Vince with a Canadian-based infrastructure to support the opening of Vince stores and the further development of its e-commerce and wholesale channels.
As part of the agreement, Vince will retain existing OVO operations including its Toronto headquarters and staff.
Vince chief executive officer Brendan Hoffman said: “We are thrilled to welcome OVO into our portfolio and to partner with Drake and Authentic in building on the brand’s strong foundation to support its next phase of growth.”
The transaction is expected to strengthen Vince’s partnership with Authentic Brands Group, which has acquired a majority interest in OVO’s intellectual property.
The company reported that part of the proceeds from the IP sale will go towards reinforcing OVO’s balance sheet and supporting Vince’s strategy for future growth.
As part of the agreement, Authentic established a new subsidiary to hold OVO’s intellectual property, with Authentic owning 51%, Drake holding 44%, and Vince retaining the remaining 5%.
The company stated that some of the proceeds from the IP sale were allocated to strengthen OVO’s operating business, which was subsequently acquired by Vince.
Vince and OVO will continue to operate as distinct brands with separate creative teams, with Vince focusing on its contemporary market and OVO maintaining its streetwear audience.
“This transaction also deepens our relationship with Authentic Brands Group, a partner supporting our multi-brand platform strategy to broaden our portfolio of brands, business models, and distribution channels, and drive long-term value for all stakeholders. We are committed to preserving the authenticity and meaningful customer relationships that have driven OVO’s success to date,” Brendan Hoffman added.
In response to this development, Vince projects that its financial results for the second quarter of fiscal 2026 will reach the higher end of the guidance it previously provided, not accounting for any tariff refund benefits.
The company also noted these projections could be revised, depending on routine financial closing activities and period-end adjustments for the quarter ending 1 August 2026.
