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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.
Off-White™ will join brands like Scotch & Soda, Bebe and Hurley in the Bluestar Alliance portfolio.
LVMH acquired a 10% stake in investment vehicle Double R, a partial owner of Moncler.
In the 11th edition of the final, Hodakova was awarded the LVMH Prize while Duran Lantink took home the Karl Lagerfeld Prize alongside the winner of the first Savoir-Faire prize, Standing Ground.
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