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PARIS – French luxury group, LVMH, has purchased a minority stake in the Stella McCartney brand. The business, which owns the Vuitton, Dior and Givenchy, is hoping its new partnership with McCartney will help it push its sustainability credentials. Luxury brands are increasingly attempting to tap into the desire for more sustainable products from young consumers. Bernard Arnault chairman and CEO of LVMH said: “It is the beginning of a beautiful story together, and we are convinced of the great long-term potential of her House.”

It will be also interesting to see whether McCartney, a lifelong vegetarian who doesn’t use any fur or leather in her designs, attempts to persuade the luxury house to shift away from its use of real fur and crocodile skins in its fashion collections.

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Added Arnault: “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 emphasises LVMH Groups’ commitment to sustainability. LVMH was the first large company in France to create a sustainability department, more than 25 years ago, and Stella will help us further increase awareness on these important topics.”

LVMH declined to comment on the size of the transaction but said it would disclose more details about the tie-up in September.

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