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The British designer of high-end footwear is to become independent from French luxury conglomerate LVMH, which had acquired the label in 2013.
Nicolas Kirkwood is to regain control of his fashion label from LVMH, which will allegedly support the designer during the first few years of independence to ensure a gradual change of hands. Reportedly, the brand is not performing very well, with 2019 revenues down 28% to £8.14 million (US$10.4 million) and an operating loss of £3.3 million (US$4.23 million). The British designer launched his label in 2005 and LVMH became majority shareholder in 2013.
Sources: Pambianco News/Fashion Magazine