LVMH Moët Hennessy - Louis Vuitton, Société Européenne (ENXTPA:MC) entered definitive agreement into to acquire 60% stake in Offwhite Operating Srl from Virgil Abloh on July 20, 2021. Abloh will retain a 40% stake and continue as creative director of Off-White. New Guards Group will remain an operating partner for Off-White through its licensing agreement with Off-White LLC. Meanwhile, Abloh will remain artistic director of the men's wear collections at Louis Vuitton. The transaction is subject to regulatory approval and is expected to be completed within the next 60 days. Peter J. Barack, Daniel L. Dominguez, Scott J. Slavick, and Michael J. Towne of Barack Ferrazzano acted as lead counsel to Louis Vuitton in the deal.