Drake Speaks Out About "Bigger Dreams" After Selling Stake In OVO

Drake’s been waving the OVO flag and pushing his owl-branded imprint since 2008, but now he’s ready to take the brand global.

Today, Authentic Brand Group announced it’s purchased a majority stake in OVO intellectual property; meanwhile, Drake still owns a significant piece of the brand and will continue “shaping its creative vision.”

Drake responded to the monumental business deal, saying he’s grateful OVO has accomplished so much and grown alongside his career, and he’s excited for new heights with Authentic’s help.

“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,” said Drake.

Hypebeast reports that Authentic Brand Group now owns 51% of OVO, while its longtime partner Vince Holding Corp., which specializes in “product development, merchandising and retail stores,” gets a 5% stake. 

With the cultural impact OVO has, Authentic looks to tap into that.

“OVO has earned a place among the world’s most influential lifestyle brands because it has always stood for something authentic and unmistakable,” said Jamie Salter, Founder and Executive Chairman of Authentic. “Drake and his team have built something with incredible cultural influence. We see a significant opportunity to take that even further, opening new markets, building new businesses and reaching more people around the world without losing what makes OVO, OVO.”

Authentic’s got a long history of taking over brands and growing them while still holding on to their genuineness. Just look at some of the brands in its repertoire like Reebok, Champion, Nautica, Sperry, Bergdorf Goodman, and Juicy Couture.

Among other major brands developed by stars, Drake can look to Authentic’s success with David Beckham, Kevin Hart, Shaquille O’Neal, Muhammad Ali, and Elvis.

OVO is still keeping it pushing with a concentration of releases, like its unveiled Campus Collection, just in time for the university semester to begin. It acts as a love letter to Canada by featuring only northern institutions of higher education like the University of Waterloo, York University, Dalhousie University, McMaster University, Western University, and the University of Toronto.

See social media reactions to Drake’s business move below.