Stella McCartney signs deal with LVMH

OHMYGOSSIP — Stella McCartney has signed a deal with French luxury group LVMH.
The 47-year-old fashion designer – who is committed to using sustainable and leather and fur alternatives in her clothes – has teamed up with the Moët Hennessy Louis Vuitton luxury conglomerate, which owns Loewe, Fendi and Christian Dior, after leaving her former French fashion group, Kering, last year.
Stella – who is the house’s founder – will continue her role as the brand’s creative director, and as the majority owner of her eponymous business, however, she will also become a special adviser to LVMH’s chairman, Bernard Arnault, and to the LVMH board on the topic of sustainability and fashion’s environmental issues.
Arnault told WWD: “It is the beginning of a beautiful story together, and we are convinced of the great long-term potential of her house.
“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 constraints. It emphasises LVMH Group’s commitment to sustainability.”
Stella – who is the daughter of Sir Paul McCartney and his late wife Linda – bought back Kering’s 50 per cent stake in her brand in March 2018, and since then the design icon has been approached by a number of investors.
In a statement, Stella added: “While these approaches were interesting, none could match the conversation I had with Bernard 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.”
The fashionista is LVMH’s second high-profile signing this year, as earlier this year Arnault announced it was launching high fashion label, Fenty, with Rihanna, making her the first black woman to head up a fashion house at the company.

Source: IconInsider.com
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