LVMH Luxury Ventures, an investment arm of the multinational conglomerate, has taken a minority stake in Gabriela Hearst, a New York-based luxury label. LVMH Luxury Ventures often invests between 2 to 15 million euros per deal, though the specifics of this deal were not disclosed.
Hearst launched her namesake brand in 2015, before which she ran Candela, a contemporary-priced label, for over a decade. Just three years after she launched her label, the collection brought in $15-20 million in sales revenue. In late 2018, former Bottega Veneta Americas president Giuseppe Giovannetti was hired as chief executive.
In an interview with Business of Fashion, Hearst said, “I love our independence. I like having our choice and not being pressured by a stock market or a private equity return on investment. It would have to be something strategic that we could learn from, something more.”
LVMH Luxury Ventures, launched in 2017, invests in emerging labels that have already shown an ability to scale.
Add Comment