British ethical fashion designer, Stella McCartney, has just signed a major deal with LVMH following her departure from Kering last year. Joining Kering’s rival conglomerate, McCartney will continue to be the creative director of her eponymous brand, but will also hold the position of Sustainability Advisor to LVMH’s chairman and CEO, Bernard Arnault.
Speaking to WWD, Arnault spoke about Stella McCartney’s appointment at LVMH, “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 emphasizes LVMH Group’s commitment to sustainability.”
In 2018, the British designer, and daughter of Beatle’s star, Paul McCartney bought back her brand, and has since been presented with many investors, as she stated, “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.”
Stella McCartney had co-owned her brand with Kering for 17 years, with each of them holding a 50-50 stake, and split from the group as the company restructured the brands operating under them. As one of the very few leading female-owned companies within the fashion industry, McCartney told the Copenhagen Fashion Summit that “it would have been rude not to” buy back her share of her company.
It has been reported that the story of the split causing her to give up her private ownership by joining LVMH will come to light this September. LVMH strongly believe in Stella McCartney as a brand and are pushing for the brand’s worldwide development “while of course remaining faithful to its long-lasting commitment to sustainability and ethical fashion.”
This year in May, LVMH launched its first female-run fashion house, Fenty, which is Rihanna’s first RTW luxury collection, following 2 years of planning and producing. Riri speaking of Bernard Arnault stated, “Mr. Arnault is not an idiot, he’s a very smart man and he’s open.