British fashion designer Stella McCartney will fly solo with the purchase of the minority stake held by luxury giant LVMH in her company, according to a joint statement published on Monday, January 27.
Since 2019, LVMH has held 49% of the shares in the brand founded by the stylist, daughter of ex-Beatle Paul McCartney in 2001.
The amount of the transaction was not disclosed.
“This new chapter for Stella McCartney reflects her desire to write a new page in her story independently, after working closely with the Group to strengthen the fundamentals and governance of her House,” the statement said.
Stella McCartney will continue “to advise Bernard Arnault and LVMH’s executive team on sustainability issues as Global Ambassador on Sustainability,” the document added.
Stella McCartney – a vegetarian and supporter to the animal cause, who does not use leather, fur or feathers in her creations – has been advising the CEO of the luxury group on these issues, particularly on sustainable development, since 2019.
The Stella McCartney brand offers women’s ready-to-wear, a children’s collection, and a range of beauty products launching in 2022… in 48 directly owned stores and 21 franchises in major cities such as New York, London, Paris, Milan, Tokyo, Shanghai and Beijing. It is also sold online in around 100 countries and has a network of third-party distributors comprising more than 800 points of sale worldwide.
