Authentic Brands Group, the company behind skateboarding brands such as DC Shoes, Element and Volcom, has partnered with Drake to expand his October’s Very Own brand around the world.
RELATED: DC Shoes, Volcom & Airwalk Parent Authentic Brands Group Appoints New CEO to Lead Expansion
According to reports, Authentic has acquired a majority stake in the intellectual property of OVO, the premium lifestyle label co founded by Drake.
For skateboarding, the deal is interesting because Authentic already has a long history with skate clothing and skate culture.
DC, Element and Volcom have all been part of skateboarding in different ways, giving Authentic experience with the type of apparel and footwear that has become part of everyday life for skaters.
OVO already has a strong identity in clothing, with products that can naturally appeal to people who wear skate shirts, hoodies, jackets, caps and other casual streetwear.
Drake’s influence also gives the label access to a huge audience that extends well beyond music.
Now that Authentic is involved, there is a much bigger platform behind OVO.
RELATED: Danny Way & Colin McKay Off DC Shoes After Authentic Brands Group-Boardriders Acquisition
Sources close to ShreddER say there could be a potential connection to skate clothing.
Skateboarding has always had a strong connection with graphic shirts and recognizable apparel brands. An OVO skate shirt, for example, would not feel completely out of place in a skate shop if the company eventually decided to explore that market.
There is also the possibility of OVO supporting individual skaters through sponsorships. Authentic already has relationships with skateboarding brands and understands how team riders, apparel, footwear and skate media fit together.
Once OVO eventually connected with skateboarding, sponsoring riders could be one way to introduce the brand to that audience.
The timing is also interesting.
Skateboarding has continued to attract attention from major fashion and luxury brands, while its inclusion in the Olympic Games has given the culture an even larger international platform.
With that growing interest, OVO could potentially find opportunities within skate clothing and the wider skateboarding market as Authentic expands the brand into new areas.
RELATED: Element Skateboards, DC Shoes & Airwalk Owner to Buy Majority Ownership of Guess IP
Authentic says the goal of the partnership is to expand OVO into new markets, develop new businesses and reach more consumers around the world while keeping the identity created by Drake and his team.
Drake also appears to be fully on board with the next phase of the brand.
He described OVO as something that started with a small group of people from Toronto who had bigger ambitions, with the company now looking toward its next stage alongside Authentic and VNCE.
The operating side of OVO will be handled by Vince Holding Corp., which has been a longstanding partner within Authentic’s network.
Vince will oversee areas including design, product development, merchandising and OVO’s retail stores.
That setup could give OVO more room to expand its apparel range while maintaining the creative direction that has made the brand recognizable.
RELATED: How Wall Street Killed Core Skateboarding and Turned It Into a Licensing Business
There are plenty of ways this could eventually play out in skating. OVO could remain focused on premium lifestyle clothing, or it could explore areas that overlap with skate culture through shirts, footwear, collaborations, events or rider sponsorships.
Authentic’s ownership of established skate brands makes the connection especially interesting.
DC, Element and Volcom have helped shape skate clothing and footwear for decades, and now the same parent company is working with one of the biggest names in music and fashion.
Authentic already has the experience in skating with brands and industry relationships to help make that crossover happen.
Seeing an OVO logo on a skate shirt or on the back of a sponsored skater would not be the strangest thing to happen in skateboarding.