Stella McCartney announced the repurchase of the minority stake held by LVMH in the house she founded, the two companies said in a joint statement on Monday.
“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,” according to the release.
LVMH announced it took a 49 per cent stake in the London-based fashion label known for its sustainability credentials in 2019, a year after McCartney acquired full control of her namesake brand from Kering, which had held a 50 per cent share for 17 years.
Under LVMH, the brand notably hired a new CEO Amandine Ohayon, streamlined its retail network and collaborated with Veuve Clicquot.
The designer also participated in the LVMH Prize for young fashions designers and the LVMH sustainability event at Unesco in December 2023 alongside Antoine Arnault, who is LVMH’s head of image and environment.
McCartney will continue to advise LVMH chief Bernard Arnault and the group’s executive team on sustainability issues as global ambassador on sustainability, the release also says.
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