Drake has built himself an incredibly successful clothing brand in OVO. The brand continues to bring forth collaborations with major entities like the NHL, NFL, and Looney Tunes. With the success of ICEMAN, OVO is preparing for a major influx of interest, and according to reports, an acquisition could be inbound.
In a new report from Puck News, it was revealed that Drake's people are in talks to sell 50 percent of the OVO brand. This share of the company would be going to Authentic Brands Group, which is one of the biggest licensors on the planet.
Authentic Brands Group works with the likes of Champion, Sports Illustrated, and even Reebok. Furthermore, they have the rights to the likenesses of Shaq, Marilyn Monroe, Elvis, and Muhammad Ali. Needless to say, this is a company that can take OVO to the next level when it comes to collaborations and other forms of licensing.
Drake's OVO Continues To Thrive
At this time, it is unknown how much the deal would cost ABG. One would have to assume that the OVO brand is worth hundreds of millions of dollars at this point. Meanwhile, it is also unclear what stage both sides are at in terms of the negotiations.
The deal could get done tomorrow, or it could fall through. At this time, both sides are just talking. Regardless, this is a huge deal for Drake when you consider that a deal like this could do wonders for both OVO and his personal wealth.
Ultimately, we are interested in seeing how all of this develops. OVO is already killing it when it comes to licenses and collaborations. However, these negotiations prove the company believes it could be doing more.
