Stella McCartney buys back shares owned by LVMH
Stella McCartney has bought back the minority stake held in the business since 2019 by luxury conglomerate LVMH.
McCartney, the trailblazing sustainable luxury designer, has not completely parted ways with the French group and will continue to advise its chief Bernard Arnault on sustainability issues as a Global Ambassador on Sustainability.
LVMH acquired its stake in the Stella McCartney brand after McCartney parted ways with its rival group Kering, which had supported the launch of the business in 2001 (when it was then known as Gucci Group).
In a brief statement released today Stella McCartney, the brand, said the five-plus years collaboration had been "fruitful" and added: “This new chapter for Stella McCartney reflects her desire to write a new page in her story independently, after working closely with the group to strengthen the fundamentals and governance of her house.”
McCartney, a Central Saint Martins graduate, has been a pioneer in the luxury space, refusing to use any fur, leather or feathers in her designs. She has been at the forefront of innovations in sustainable materials and leather alternatives.
Having made a name for herself aa a global design force as the creative director of Chloé in the late 1990s, she established her own label with the backing of the then Gucci Group in 2001. She parted ways with Kering in 2019 and surprised the industry by quickly signing a deal to sell a minority stake to its arch rival, LVMH.