Stella McCartney has signed new deal with LVMH Moet Hennessy – Louis Vuitton, a year after departing rival conglomerate Kering.
The 47-year-old bought back her brand in April 2018 after 17 years with the French luxury company, and on Monday, a spokesperson announced that she would now be joining forces with LVMH.
McCartney will remain majority owner, continue as creative director for her eponymous brand, and will also serve as a sustainability advisor to LVMH chairman and chief executive officer Bernard Arnault.
Since buying back the stake held by Kering when executives were restructuring their portfolio, the British designer has been approached by a number of investors but chose to join LVMH due to a series of successful and inspirational meetings with Arnault and his son, Antoine.
“The passion and commitment they expressed towards the Stella McCartney brand alongside their belief in the ambitions and our values as the global leader in sustainable luxury fashion was truly impressive,” she shared in a statement. “The chance to realise and accelerate the full potential of the brand alongside Mr. Arnault and as part of the LVMH family, while still holding the majority ownership in the business, was an opportunity that hugely excited me.
“Partnering with Mr. Arnault, his family and LVMH is a big step for me and my family, but also the team at Stella McCartney. The brand has achieved so much since its launch, and this new partnership with LVMH is recognition of that work, but this I feel is just the start, and I look forward to a brilliant future together.”
Arnault added that McCartney’s passion for sustainability is the foundation of their budding professional relationship.
“It is the beginning of a beautiful story together, and we are convinced of the great long-term potential of her house,” the 70-year-old commented. “A decisive factor was that she was the first to put sustainability and ethical issues on the front stage, very early on, and built her house around these issues. It emphasises LVMH Groups’ commitment to sustainability.”
Full details of the union will be announced in September.
Stella McCartney is the second female-run fashion house that LVMH has taken under its wing in 2019 – back in May, the group unveiled Rihanna’s ready-to-wear collection, Fenty Maison.
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