Headline: Stella McCartney Repurchases Minority Stake from LVMH
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Stella McCartney has reacquired the minority stake previously held by LVMH in her namesake fashion house, marking a departure from their partnership established five years ago.
McCartney will continue to serve as LVMH's Global Ambassador on Sustainability, offering guidance to CEO Bernard Arnault and the executive team on environmental and social responsibility initiatives.
The repurchase announcement comes amidst challenges faced by the luxury industry, particularly for smaller brands facing increased competition in an uncertain economic climate.
McCartney, whose label was previously affiliated with LVMH's rival Kering (owner of Gucci), made headlines in 2019 when she transitioned from Kering to LVMH. She had initially launched her brand in 2001 in partnership with the Gucci Group, a former division of Kering.
Kering supported McCartney's brand development for 17 years. In 2019, she repurchased her 50% stake, ending the partnership.