A partnership between Stella McCartney and LVMH was announced recently.
Here are eight things to know about the move:
- The luxury goods conglomerate — based out of Paris and owning labels such as Louis Vuitton — did not reveal any financial details regarding the deal.
- However, we do know that McCartney, an English designer who is a member of the Order of the British Empire, will have majority ownership over the label, which will also see her steer the ship as creative chief.
- The line is named after McCartney.
- The partnership has a connection to nature as both parties have an interest for being greener, focusing on taking care of the environment–LVMH has raised concerns on the use of animal fur.
- McCartney has a passion in the space too, using imitation leather for her handbags.
- She has also been taking part in initiatives that promote a new luxury market that is more environmentally conscious.
- “A decisive factor was that she was the first to put sustainability and ethical issues on the front stage, very early on,” LVMH billionaire boss Bernard Arnault said of the union in a statement.
- Arnault and his business added that McCartney will have an advisory role with LVMH’s executive committee that will discuss and tackle the aforementioned issues of ethics and greenness.
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