The French luxury group LVMH has taken a majority stake in London shoe designer Nicholas Kirkwood.
Under the terms of the deal, LVMH will take a majority stake in return for providing “expertise” to grow the brand.
LVMH, which owns brands such as Christian Dior, Louis Vuitton and Givenchy, is also rumoured to be eyeing Irish designer JW Anderson.
Kirkwood, 33, founded his brand in 2004 with his business partner, Christopher Suarez, after he studied fine art at Central Saint Martins and shoemaking at the Cordwainers College. He sells his shoes in 150 shops around the world and has his own outlets in Mount Street, Mayfair, central London, as well as in New York and Las Vegas.
Kirkwood said: “LVMH is home to the most celebrated and revered brands and talents in our industry, and has an implicit understanding of luxury.”
He is the latest British fashion star to attract interest from Paris – earlier this year luxury goods giant Kering bought a 51 per cent stake in designer label Christopher Kane. Earlier this month Kering, which owns labels including Gucci, Alexander McQueen and Stella McCartney, took a minority stake in New York designer Joseph Altuzarra.