Stella McCartney buys back LVMH’s minority stake in her namesake label
The fashion designer is buying back LVMH’s minority stake in the house she founded, but will continue to advise the group on sustainability issues, the two companies announced
“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”, LVMH and Stella McCartney said in a joint statement.
However, McCartney will continue to advise LVMH chief executive Bernard Arnault and the group's executive team on sustainability issues as its global ambassador on sustainability.
LVMH took a 49% stake in the London-based fashion label, known for its sustainability credentials, in 2019, a year after McCartney took full control of her namesake brand from Kering, which had held a 50% stake for 17 years.
Image Credits: edition.cnn.com
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