Stella McCartney is buying back its minority stake from LVMH.
The 53-year-old ethical designer's eponymous brand has been partially owned by the world's largest luxury goods company, LVMH Moët Hennessy Louis Vuitton SE, since 2019, but “after more than five years of fruitful collaboration", Stella has decided to go independent.
A statement from LVMH - which is owned by the Arnault family - read: “This new chapter for Stella McCartney reflects her desire to write a new page in her story independently, after working closely with the group to strengthen the fundamentals and governance of her house.”
Despite regaining full ownership, Stella will continue to work closely with the Arnault family on sustainability as an ambassador.
Prior to landing the deal with LVMH, Stella - the daughter of Beatles legend Sir Paul McCartney - had a 50-50 deal with Kering.
In November, Stella was named PETA's Person of the Year for her commitment to creating stylish collections without using animal products.
The animal rights activist and environmentalist said she was "so proud" to have landed the 2024 title following the launch of her campaign titled 'It’s About F****** Time' which aimed to inspire "our community to take action for Mother Earth and her creatures" and was a joint venture with PETA to stop the use of leather in the fashion business.
Stella said of the honour: "PETA and my parents collaborated to shape what animal rights are today, which is why I feel so honoured and privileged to be named Person of the Year.
"I have felt connected and committed to this courageous, rebellious, kick-a** movement since I was very young, from our joint video calling to ban fur farms in the UK in 1998 to our feather-free pledge for the fashion industry in 2024.
"I feel so proud to have a team around me who also see the importance in raising awareness not only for animal rights, but human rights and our planet as well. I look forward to continuing our mission with PETA - giving a voice to the voiceless and, I hope, ending animal suffering once and for all."
As well as calling for an end to leather use, Stella also teamed with PETA to launch the Feather-Free Pledge to encourage designers and retailers not to work with feathers.
