LVMH sets up joint venture

Marco de Vincenzo’s Fall-Winter 2014 collection Paris - Arab Today The French luxury giants have taken a stake in the emerging Roman fashion talent's label. LVMH has welcomed Marco de Vincenzo into its fold with a new investment in the label. The 34-year-old designer first launched his namesake fashion house in 2009, and the deal was announced Monday, following on from the designer's successful runway show in Milan this weekend. "We are convinced that together we will develop successfully his brand. This new partnership is in the DNA of LVMH, which has always supported young designers," LVMH's Delphine Arnault explained to WWD. Like current Gucci creative director Frida Giannini and Valentino designers Maria Grazia Chiuri and Pierpaolo Piccioli, de Vincenzo is another talent to have passed through the atéliers at Fendi and will apparently continue to consult for the brand. This is the latest development in LVMH's shopping spree for young designers and the company's first investment in an Italian talent. Over the past 12 months the Paris-based group has taken stakes in Londoners J.W. Anderson and Nicholas Kirkwood, and French designer Maxime Simoëns. The group's rival Kering has also made its own marquee signings in the form of New York City-based Joseph Altuzarra and London-based Scot Christopher Kane. Source: Relaxnews