LVMH Sells Virgil Abloh’s Off-White Label as Luxury Profits Stall

French luxury goods company LVMH has sold its stake in the streetwear label Off-White three years after the death of the brand’s founder, Virgil Abloh. New York–based brand management company Bluestar Alliance now owns LVMH’s stake.LVMH, which owns 74 brands, including Louis Vuitton and Dior, reported a net profit drop of 14 percent in July as luxury revenues have stalled. The company had also beenfinding new leadership capable of carrying out a renewed strategy for the streetw