French luxury fashion house LVMH has acquired a minority stake in British designer Stella McCartney’s eponymous brand.
McCartney will maintain majority ownership, as well as her position as creative director and ambassador of Stella McCartney.
Full details of the partnership will be announced in September.
LVMH said the deal will further develop Stella McCartney and development of its worldwide business and strategy. Sustainability and ethical luxury fashion will remain at the heart of the brand.
Arnault said: “A decisive factor [in partnering with McCartney] was that she was the first to put sustainability and ethical issues on the front stage, very early on, and built her house around these issues. It emphasises LVMH Group’s commitment to sustainability.
“[She] will help [LVMH] further increase awareness on these important topics.”
McCartney said she has received much interest from parties wanting to invest in her luxury label, and that partnering with LVMH is “a big step”.