Last night, Stella McCartney announced her repurchase of the minority stake of her company owned by LVMH. The two parties released a joint statement saying: “This new chapter for Stella McCartney reflects her desire to write a new page in her story independently”.
LVMH had acquired its 49% share in the label in 2019, taking over from Kering, which held 50% stake in McCartney’s namesake label for 17 years. But what drove the British designer to buy out her company during a period of struggle in the luxury industry?
We don’t know what led the British designer to buy her brand back, but considering her sustainability efforts throughout her career, this could be a step in having more control over the company’s sustainability values. Following Trump’s inauguration and his withdrawal from the Paris agreement, it might be that McCartney wants to ensure that her brand maintains its ethos.
The designer will continue advising LVMH on sustainability issues as a Global Ambassador of Sustainability.
Featured image Stella McCartney©
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