The French luxury giant LVMH has swooped on another London Fashion Week star – the latest in a spate of British deals.
LVMH, which owns brands including Louis Vuitton, Moët & Chandon and Marc Jacobs, has bought a minority stake in fashion designer JW Anderson.
The deal will also see northern Irish born designer Jonathan W Anderson take on the role of creative director at LVMH’s Spanish leather brand Loewe. Mr Anderson succeeds Stuart Vevers, who left to join US brand Coach this year.
Mr Anderson, 29, studied at the London College of Fashion and started his career in 2008 in menswear before moving in to womenswear.
He said: “LVMH has the resources and expertise in sharp, modern luxury and I believe we can work together to create something new. I am equally thrilled to join the house of Loewe, one of the oldest leather-goods houses in the world, where I have found an exceptional craftsmanship.”
The investment by LVMH is the latest deal by a Paris based luxury group in London. It bought a majority stake in British shoe designer Nicholas Kirkwood this month while Gucci owner Kering bought a 51% stake in London based Christopher Kane at the start of the year. Large luxury groups are keen to snap up emerging talent to turn into the next “mega brand” as growth at their established names mature. London is seen as a key area for new designers.