LVMH, the French luxury goods group, has collaborated with sustainable luxury fashion brand, Stella McCartney. With this partnership, LVMH will help boost Stella McCartney’s worldwide development in terms of business and strategy, while maintaining the tag of a ‘sustainable brand’.
LVMH houses luxury retailers like Louis Vuitton, Dior, Givenchy, Fendi, Tag Heuer and Kenzo.
As part of the partnership, McCartney will continue to hold majority ownership and will serve as an advisor to Bernard Arnault, LVMH’s Chief Executive and Chairman, and to the executive committee members.
The luxury goods group had always bragged about its environmental credentials especially when its young shoppers, in particular, had shown a keen fondness for ‘greener’ fashion and. While McCartney has long been known as a trailblazer in this area as it depends on imitation leather for her handbags.
Bernard Arnault, Chief Executive and Chairman, LVMH, said, “A decisive factor was that she was the first to put sustainability and ethical issues on the front stage, very early on.”
McCartney further added, “Ever since my decision was announced to take full ownership of the Stella McCartney brand in March 2018, there have been many approaches from various parties expressing their wish to partner and invest in the Stella McCartney House.”