MILAN — LVMH Moët Hennessy Louis Vuitton said Monday it has formed a joint venture with Italian designer Marco de Vincenzo to develop his ready-to-wear label, confirming a WWD report.
Terms were not disclosed.
According to sources, the agreement gives LVMH a “significant” minority holding in de Vincenzo’s Rome-based company, with options to tighten the partnership and increase its stake down the road, as reported.
Delphine Arnault — the daughter of LVMH chairman and chief executive officer Bernard Arnault and second in command at Louis Vuitton — spearheaded the deal as the group’s leading scout for new designers.
She lauded de Vincenzo’s talent and said, “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.” RELATED STORY: Marco de Vincenzo RTW Fall 2014 >>
De Vincenzo becomes the fourth designer in the last two years to attract investment from LVMH, joining Paris-based Maxime Simoens and London designers J.W. Anderson and Nicholas Kirkwood on its roster of fashion names.
De Vincenzo has worked on accessories at Fendi, an LVMH brand, for 13 years, and will continue to do so. He said the partnership would help him take his signature brand, introduced in 2009, to the next level.
“Through Fendi, I have known and appreciated LVMH,” the 34-year-old said. “Today, a new phase starts. The challenge is exciting and ambitious.”
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast