In a recent business decision, Stella McCartney has taken over the minority share of her brand from LVMH. Meanwhile, LVMH is relinquishing its involvement in the brand, but Stella McCartney will continue to collaborate with the group, now holding the position of global ambassador for sustainability within their organization.
According to WWD, LVMH announced that Stella McCartney is regaining control over her minority stake following five years of productive partnership. The statement further explained that this move represents McCartney’s aspiration to pen a fresh chapter in her career with increased independence. Despite the shift, McCartney will continue to collaborate with LVMH, offering guidance to the Arnault family on sustainability matters as their new advisor and ambassador.
In 2019, when LVMH purchased a share in Stella McCartney, Bernard Arnault was said to be thrilled about the collaboration, particularly because of McCartney’s dedication to sustainability. This alliance allowed McCartney to maintain the majority control over her own company, unlike her previous 50-50 arrangement with Kering. At LVMH, McCartney has been instrumental in launching numerous eco-friendly initiatives. For instance, she collaborated with Veuve Clicquot on a partnership that repurposed hand-collected grape stems from the Champagne harvest into high-end accessories. During her Spring 2024 fashion show, models walked the runway carrying bags made from this upcycled waste material. LVMH claims that this new grape-based product was developed in under 18 months and significantly reduced greenhouse gas emissions associated with leather and winemaking production processes.
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2025-01-28 09:26