Farfetch-owned platform New Guards Group, which operates Off-White and Palm Angels, has bought Opening Ceremony.
New Guards Group has acquired the Opening Ceremony trademark and intellectual property rights in an undisclosed deal, Business of Fashion reports. It also plans to take over production of Opening Ceremony’s in-house line.
Founders Humberto Leon and Carol Lim will remain at the head of Opening Ceremony as co-creative directors. New Guards will bring Opening Ceremony’s production to its base in Milan, relaunch the brand’s website on the Farfetch platform and set up a showroom in Paris.
Opening Ceremony was founded by Leon and Lim in New York in 2002. As well as its own line, it stocks labels including Jacquemus, Acne Studios, Barbour and Converse. It currently operates three stores in the US and one in Japan.