After lvmh, Stella McCartney Stake sells it to the founder

(Bloomberg) -LVMHMOëThenesSY Louis Vuitton SE sold its shares owned by Stella McCartney to the founder of the brand because Luxury Group cleared the tag combination of high -end products.

The two parties said in a joint statement on Monday that Stella McCartney, 53, will repurchase minority equity from LVMH after more than five years of cooperation. The terms of the transaction have not been disclosed. Stella McCartney will continue to provide advice to LVMH for sustainability.

The designer’s works are famous for avoiding animal products such as leather, fur, and feathers. At the same time, it provides environmentally friendly design of glue sports shoes (gel -free sports shoes).

Luxury Groups with Louis Vuitton and Christian Dior will be reported on Tuesday. Analysts predict that due to poor demand in China, LVMH sales fell by 1.04 % in the fourth quarter.

Stella McCartney was founded by the daughter of Paul McCartney, the former man of the Beetle band. The brand used to be part of Gucci owner Kerning Sa.

This was after LVMH sold the company in September that had an OFF-White label in September. About a year ago, it sold the shares of Cruise Line Holdings CO., a parent company that sold the seat side and car cruise service business. The LVMH DFS department also closed a high -end department store in Venice in November.

Stella McCartney LTD’s sales in 2022 were about 40 million pounds (US $ 50 million), and operating losses were about 8.8 million pounds.

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