Fashion designer Stella McCartney has reacquired the 49% stake in her eponymous brand from luxury conglomerate LVMH, a share it held for five years.
Despite this, McCartney will maintain her role as global ambassador on sustainability, advising LVMH CEO Bernard Arnault and his executive team, as reported by .
"This new chapter for Stella McCartney reflects her desire to write a new page in her story independently, after working closely with the group to strengthen the fundamentals and governance of her house," stated both LVMH and Stella McCartney in a joint announcement on Monday.
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The minority stake was initially bought by LVMH in 2019, a year after McCartney bought back Kering's 50% stake in her brand.
McCartney had a 17-year partnership with Kering, with its Gucci division aiding the launch of her brand in 2001. The financial details of the transaction remain undisclosed.
Some industry observers speculate that LVMH might be considering asset divestment due to a slowdown in the broader luxury market.
LVMH, the world's largest luxury conglomerate, owns an extensive portfolio of brands including Givenchy, Celine, Fendi, and Dior, along with champagne labels Dom Pérignon and Krug.
It has already sold streetwear fashion label Off-White and its stake in Cruise Line Holdings. The luxury market downturn is attributed to declining sales in China and Europe, both grappling with demand issues.
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However, recent festive trading results from both Burberry and Richemont have indicated a potential upturn in the market this year, bringing some optimism to the sector. Today, LVMH shares dipped by 0.64 per cent.
Stella McCartney Ltd has yet to file its 2023 accounts with Companies House. In 2022, the brand reported a turnover of £40m and a pre-tax loss of £10m.