Following a 17-year partnership with Kering — which ended last year — Stella McCartney has signed a new deal with French luxury goods conglomerate LVMH, Business of Fashion reports. The partnership sees Stella McCartney continuing her role as creative director of her namesake label, while she is also retaining majority ownership. It’s worthy of note that LVMH rarely accepts a minority role.
McCartney reveals that she had been approached my multiple investors since cutting ties with Kering, but her conversation with Bernard Arnault and his son Antoine put LVMH over the top. The partnership between Stella McCartney and LVMH comes after McCartney bought back Kering’s 50 percent stake in her brand last March.
LVMH looks to focus on the global growth of Stella McCartney, while taking advantage of the brand’s positioning at the forefront of sustainable and ethical fashion. Furthermore, McCartney will be serving as a special adviser on sustainability to Bernard Arnault and LVMH’s executive committee.
LVMH is expected to announce the complete details of its deal with Stella McCartney in September. Until then, visit Business of Fashion for more on the new partnership.
- Source: Business of Fashion