French luxury group LVMH has snapped up a majority stake in London footwear designer Nicholas Kirkwood.
Under the terms of the deal LVMH will take a majority stake in return for providing “expertise” to grow the brand.
LVMH, which owns brands such as Christian Dior, Louis Vuitton and Givenchy, is also rumoured to be eyeing Irish designer JW Anderson.
Nicholas Kirkwood said: “LVMH is home to the most celebrated and revered brands and talents in our industry, and has an implicit understanding of luxury. From my first meeting with Delphine Arnault and Pierre-Yves Roussel of LVMH, it was clear that LVMH would be the best partner for our brand as we have the same values of design, creativity, and craftsmanship. I look forward to us working together to achieve our long term vision for the brand”.
In January, luxury group Kering bought a 51% stake in Scottish designer Christopher Kane.