Stella McCartney Is Buying Back Minority Stake From LVMH
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The designer will still continue to work with the group as its new global ambassador on sustainability.
The owner of Cartier, Piaget, Chloe and Montblanc saw an uptick in US and European sales, as well as smaller declines in China.
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The Norwegian brand becomes the first B Corp company that LVMH Luxury Ventures has in its investment portfolio.
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Designed by the founder’s granddaughter Silvia Venturini Fendi, the celebratory line will be presented in February.
The contemporary Swedish brand will use the money to open new stores, develop special projects, attract key hires and more.
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Driven by a third-quarter sales dip of 16% in the Asia Pacific region, signaling a negative outlook for the wider luxury sector.
Which will include collaborations with Louis Vuitton, Moët Hennessy and TAG Heuer.
Celine has appointed Michael Rider, former creative head of Polo Ralph Lauren, as the new artistic director.
