Authentic Brands Group has acquired a majority stake in Drake's lifestyle brand October's Very Own (OVO). The Canadian rapper will retain a minority stake and continue to shape the brand's creative vision. Authentic is partnering with Vince Holding Corp. on design, product development and retailing of OVO products. Drake described Authentic and Vince as "the perfect partners" to help grow the brand he started in Toronto 20 years ago. Jamie Salter, founder and executive chairman of Authentic, praised OVO's cultural influence and sees opportunities to expand into new markets globally. Authentic has become the second largest licensor in the US behind Disney through celebrity partnerships and brand acquisitions including Brooks Brothers, Champion and Sports Illustrated.

"Our job is to protect what people already love about these characters while giving them new ways to feel it all over again," said Simon Philips, Executive Vice President of Character Brands at Authentic.