Delphine Arnault is making a name for herself as LVMH's official talent scout.
Adding to its growing portfolio of young talent, which already includes the likes of J.W. Anderson and Nicholas Kirkwood, the French luxury conglomerate announced Tuesday that it had taken a minority stake in Italian label Marco de Vincenzo.
The talented designer already had a relationship with the company, as he's worked for LVMH-owned Fendi as an accessories designer for 13 years. LVMH describes the deal as a "joint venture" to aid in the development of de Vincenzo's namesake line. The company did not disclose the terms, but a source tells WSJ that it's almost a 50/50 deal, with LVMH taking a 45 percent stake and the designer holding onto the remaining majority.
"We are delighted to start a new partnership with Marco De Vincenzo, whose talent is known and respected by everyone and has been fully expressed at Fendi," said Delphine Arnault in a statement. "We are convinced that together we will develop successfully his brand. This new partnership is in the DNA of LVMH which has always supported young designers.”
Over the past few seasons, de Vincenzo has proven himself to be one the most exciting new designers in a city where up-and-comers aren't often given the spotlight. And the industry has paid attention: Anna Wintour and several other top editors sat front row last season, and his show this season was also well-attended. We're excited and curious to see what the future holds for de Vincenzo: Will he continue working at Fendi, and perhaps even one day replace Lagerfeld at the Italian fashion house? And given his experience with the category, will he launch accessories next? We'll be watching.