Fashion designer Stella McCartney has bought back the minority stake that LVMH held in her fashion brand. She will, however, continue to serve as a sustainability ambassador for the luxury conglomerate.
Commitment to sustainable fashion
LVMH is currently streamlining its brand portfolio and has decided to sell its 49 % minority stake in the Stella McCartney brand. The luxury group had acquired this stake in 2019, after McCartney had ended her partnership with its arch rivals, the Kering group.
McCartney will go forward independently, having regained full ownership of her eponymous brand, but she will continue to advise LVMH as a sustainability ambassador. Known for her vegan lifestyle and advocacy for sustainable fashion, McCartney’s brand was recently recognised by animal rights organisation PETA as a leading label for luxury, sustainable, and vegan products.
