It's been nearly a year and a half since Stella McCartney consciously uncoupled from its former parent company, Kering. After 17 years of ownership, the luxury group sold its 50% share of the label back to its namesake designer in March 2018.
At the time, there were reports that McCartney had no major business plans, such as an initial public offering or potentially bringing on a new business partner. On Monday, however, plans have changed. Her eponymous brand has joined LVMH, according to an official announcement, which makes for one spicy switch-up between two major (and rivaling) luxury conglomerates.
McCartney will still hold her position as creative director and ambassador of the brand. (Plus, it will be the second female-run fashion house within LVMH, following the highly anticipated launch of Rihanna's Fenty Maison label.) Additionally, she will hold a "specific position and role on sustainability as special advisor" to LVMH chairman and CEO Bernard Arnault and the executive committee members.
"It is the beginning of a beautiful story together, and we are convinced of the great long-term potential of her house," said Arnault in a statement. "A decisive factor was that she was the first to put sustainability and ethical issues on the front stage, very early on, and built her house around these constraints. It emphasizes LVMH Groups' commitment to sustainability."
More details behind the new deal won't be fully revealed until September.