Authentic Brands Group Acquires Majority Stake in Drake's OVO Brand
Authentic Brands Group has acquired a majority stake in the intellectual property of OVO, the premium lifestyle brand co-founded by Drake, Oliver El-Khatib, and producer Noah "40" Shebib in 2008. The deal was announced on Thursday, August 27, 2026, via a media release from Authentic. Financial terms were not disclosed.
The transaction is structured through a new subsidiary holding OVO's intellectual property, in which Authentic owns 51%, Drake retains 44%, and Vince Holding Corp (Nasdaq: VNCE) holds 5%, according to BusinessWire. Vince, an Authentic network partner, also acquired OVO's operating business outright and will serve as the brand's core apparel licensee — overseeing design, product development, merchandising, and retail stores. Drake, who kept what Authentic described as a significant ownership stake, will continue shaping the brand's creative direction alongside the company.
OVO operates 12 flagship stores alongside its e-commerce business and is led by Chief Executive Officer Drex Jancar, per Music Business Worldwide. The brand now sits in a portfolio that includes Reebok, Champion, Brooks Brothers, Sports Illustrated, and the Care Bears. Drake's owned music recordings sit under his OVO Sound label, which is separate from the apparel and lifestyle IP covered by this deal.
Drake, in a statement, framed the partnership as a continuation of what he and his co-founders started nearly two decades ago: "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." Jamie Salter, Authentic's founder and executive chairman, said OVO had "earned a place among the world's most influential lifestyle brands" and pointed to "a significant opportunity to open new markets and reach more people." Vince Holding Corp CEO Brendan Hoffman said OVO's creative identity remains its own, with Vince's role to support that vision and bring it to more consumers.
The closing follows a legal dispute that surfaced earlier in 2026. In June, A.R.I. sued OVO over a default, forbearance, and alleged non-payment of millions in contractual obligations, according to BusinessWire. That lawsuit noted OVO was already in discussions over a potential transaction under which Authentic might acquire a 50% ownership stake. The deal that closed on August 27 landed at 51%, giving Authentic the controlling share the earlier filings anticipated.
Authentic's broader track record in music-adjacent branding stretches back several years. In November 2021, Universal Music Group and Authentic launched a strategic alliance to acquire and manage artist brands, targeting name and likeness rights. Five months later, Universal Music Publishing Group struck an exclusive global deal with Authentic — then the owner of Elvis Presley Enterprises — to represent the Presley song catalogue outside the UK.
For OVO's customers, the most visible change will likely be reach: a brand built on Toronto scarcity now backed by a company whose business model is global licensing across categories. The owl logo stays where it is. The question is how many more shop windows it appears in.
