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After repurchasing her 50% stake from French luxury conglomerate Kering in 2018, fashion designer Stella McCartney has signed a partnership with rival LVMH.
Stella McCartney and LVMH have announced an agreement to further develop and accelerate the international development of the Stella McCartney House in terms of business and strategy, while “remaining faithful to its long-lasting commitment” to sustainable and ethical luxury fashion. “It is the beginning of a beautiful story together, and we are convinced of the great long-term potential of her House”, said Bernard Arnault, Chairman and CEO, LVMH. “It emphasises LVMH Groups’ commitment to sustainability”, he added. “LVMH was the first large company in France to create a sustainability department, more than 25 years ago, and Stella will help us further increase awareness on these important topics.”
McCartney is to hold a specific position and role on sustainability as special advisor to Arnault and the executive committee members. In March 2018, the designer entered into an agreement for the sale and purchase of Kering’s 50% stake in her fashion brand. Read more here.