French luxury goods group LVMH has snapped up a minority stake in London designer JW Anderson a week after buying a share in British label Nicholas Kirkwood.
LVMH, which owns brands such as Christian Dior, Louis Vuitton and Givenchy, has also appointed the designer as creative director for its luxury accessories label Loewe. He will succeed Stuart Vevers, who is joining Coach.
It was reported earlier this month that the luxury giant was in discussions with the designer label. Financial details have not been revealed.
Anderson’s first priority is to build a management infrastructure, to enable him to focus on designing his women’s and menswear collections.
He launched the label in 2008, and his presence on the fashion scene was elevated in November last year after Donatella Versace enlisted him to do a capsule collection for Versace’s diffusion line Versus. For autumn 12 the designer teamed up with Topshop for a collaboration featuring clothing, footwear and even stationery.
LVMH has been on the acquisition trail over the last couple of years. Last week the luxury group acquired 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.
In July LVMH purchased a controlling stake of luxury Italian men’s and womenswear brand Loro Piana in a deal worth €2bn (£1.72bn) and throughout the last couple of years has upped its shares to 22.3% in luxury label Hermes.
Emerging young designers have been high on the radar for luxury groups. Kering bought a share in French designer Joseph Altuzarra last week after acquiring a majority in British label Christopher Kane in January.