JW Anderson in action during London Fashion Week. Photograph: Russ McClintock
LVMH, the company behind Louis Vuitton and Dior, has bought a minority stake in London fashion label JW Anderson.
Jonathan William Anderson, 29, who graduated from the London College of Fashion just eight years ago, will also become creative director of LVMH's Spanish leather brand Loewe as part of the deal, the terms of which were undisclosed.
Anderson, who was born in Northern Ireland and works out of a small studio in Dalston, east London, said: "LVMH has the resources and expertise in sharp, modern luxury and I believe we can work together to create something new. I am equally thrilled to join the house of Loewe, one of the oldest leather-goods houses in the world, where I have found an exceptional craftsmanship."
Pierre-Yves Roussel, chairman and chief executive of LVMH Fashion Group, said: "When Delphine Arnault [LVMH executive and daughter of Bernard Arnault, LVMH's multi-billionaire boss] and I first met Jonathan, we immediately felt that we could help him express the full potential of his innovative, fast-emerging and already influential brand."
Anderson is the second British designer bought up by LVMH in the past few days, following its purchase of a majority stake in shoe designer Nicholas Kirkwood last weekend. Kirkwood's shoes, which start at about £500 a pair, have celebrity admirers including Alexa Chung and Sarah Jessica Parker.
via fashion - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNE-6k8KcSwWfYtBjk9p0zRX_8jNHA&url=http://www.theguardian.com/business/2013/sep/26/lvmh-buys-stake-jw-anderson
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