Stella McCartney and LVMH Partnership Shifts Sustainability to the Forefront
Stella McCartney has been a regular in the fashion news streams lately with her partnerships with Taylor Swift and Adidas, she continues efforts to raise awareness on sustainability issues in the fashion industry and now her latest partnership with LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury group.
Since ending her partnership with Kering in 2018, McCartney has been approached by potential partners and investors to help expand her business.
This alliance exemplifies how environmental, sustainability and ethical issues are becoming an area of focus in the fashion industry. LVMH Chairman and CEO Bernard Arnault said in a statement that McCartney’s commitment to these important issues was a “decisive factor” in the deal, “Stella will help us further increase awareness on these important topics.”
The Financial Times has recently dubbed millennials, “the world’s most powerful consumers,” which makes this partnership between LVMH and Stella McCartney an important one. Millennials are interested in brands that embody their values and ethics, with climate concerns being on the top of their list.
The financial details of the agreement will be disclosed in September, but it is no doubt an exciting opportunity for McCartney. She says in a statement, “The chance to realize and accelerate the full potential of the brand alongside Mr. Arnault and as part of the LVMH family, while still holding the majority ownership in the business, was an opportunity that hugely excited me.”