Greener Pastures: LVMH, Stella McCartney Ink a Deal With Eco Ambitions
LONDON — Goodbye, François-Henri. Hello, Bernard. In a deal that speaks to grand ambitions in the sustainability space and protecting the planet — and a major leap from one luxury titan, François-Henri Pinault and Kering, to his larger rival, Bernard Arnault — LVMH Moët Hennessy Louis Vuitton has surprisingly taken a minority stake in the house of Stella McCartney. It also has tapped the green campaigner as a special adviser to LVMH chairman and chief executive officer Bernard Arnault and the executive committee members. Having launched a Millennial-focused luxury maison with Rihanna under the Fenty label earlier this year, LVMH is now planting its flag firmly in the fields of green: Not only will the luxury giant support the growth of McCartney’s brand, it plans to give the designer, who has described herself as an “eco-weirdo,” carte blanche to preach the environmental gospel at LVMH. While LVMH has long been committed to environmentally aware practices, it has been shy about touting its credentials, unlike some of its competitors. Yet it was the first large company in France to create a sustainability department, more than 25 years ago, and during its 2019 annual general meeting, it outlined its goals in eco-design, the responsible supply
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