Breaking: ‘Off-White’ is completely closing down and shutting down stores! The last store in Beijing is also going to pull…

Recently, according to the intelligence news provided by the fans, the OFF-WHITE™ store located in Beijing Xidan Old Master Department Store will also be withdrawn. Thus, Off White’s northern store market, completely zero.

The last brick-and-mortar store will also be closed.

We previously reported that the Sanlitun OFF-WHITE store was relocated in the northern district, and that basically all the light luxury hip brands along the street had retreated to the big first-tier luxury store, Teng Jean.

So the Old Master’s department store store became the only seedling in Beijing, and now also completely gone, “crosswalk enthusiasts” in the future can only buy online.

At the end of last month Xidan Laofujing store has just new OFF-WHITE24SS new series, the results of the goods did not sell out a few pieces, the store will be in a hurry to close …..

And the wave of closures continues, with OFF-WHITE in Taikoo Li, Chengdu following suit. In this case, counting last year’s closure of stores in Sanlitun North and Plaza 66 in Shenyang, there are only two stores left in China, Hangzhou in77 and Shanghai Lafayette.

The only two stores left in China are Hangzhou in77 and Shanghai Old Master’s Department Store, which are on the verge of exiting the domestic physical history stage.

OFF-WHITE in China and even many places in Europe to open stores are concentrated in 2019, such as Shanghai IFC store, Chengdu Landmark store, that year is in its heyday OFF-WHITE offline crazy expansion.

Now look back at the queuing scene at the Beijing Sanlitun store in 2018, it’s saddening to know that OFF-WHITE’s hotness once surpassed Gucci and Parisian House as a popular brand TOP3 back in the day.

After Virgil’s death, the brand fell from grace and declined faster than anyone expected.

In July 2021, LVMH acquired a 60% stake in Off-White from Virgil Abloh, but also owned only the trademark rights to the brand rather than the most critical sales and operations.

Farfech, another stakeholder with a key operational role, is already in a precarious situation of its own, facing total closure, not to mention spending energy to save a fading trend brand.

OFF-WHITE’s sales in 2022 are reported to be only $227 million, less than half of what they were in the previous three years, and the ’23 earnings report should be even worse. And 20 years at the peak of the New Guards Group Group’s goal is to achieve annual sales of more than 1 billion euros in 5-10 (equivalent to 23 years of Paris House) ……

In the face of this predicament, OFF-WHITE’s largest domestic distributor, I.T, chose to open a discount zone, shifting stores from first-tier areas to outlets, and only last year opened new stores in Shanghai and Tianjin’s Florentine Town, with huge discounts on sale.

Unintentionally, the famous quote that countless people have guessed: the street will die. Really let Virgil Abloh’s own brand to lead the call.

Once bet on OFF-WHITE is “the next Dior” giant LVMH group completely unable to look down, after the news has been rumored that LVMH intends to buy OFF-WHITE from the hands of Farfetch the remaining shareholdings and licensing rights, collect as well as back to the IT in China’s agency, ready to take over after the self-management of the brand.

Now the accelerated closure of the store may be the first step of the two sides talked about, the probability that the future OFF-WHITE will be directly managed by LVMH, to return to the Chinese market with a new look, until then we can only wait patiently.

Under great pressure, OFF-WHITE’s Fall/Winter 24 collection returns to the brand’s roots under the leadership of Virgil’s close friend and current Creative Director, Ib Kamara, to create a series of items that combine fashion and street culture under the theme of “Homecoing”.

From the design of this season can really see a lot of OFF-WHITE classic shadow, also incorporated Kamara’s own personal style, but by Virgil Abloh single-handedly created the street trend style is really difficult to realize beyond …..

In any case, Virgil Abloh is also the wave of the times pushed to the top, no matter how much talent the descendants have, may not be able to be selected by the times.

Do you guys think that the tears of the times OFF-WHITE will ever get back to the top?