According to sources, the agreement gives LVMH a “significant” minority holding in de Vincenzo’s company, with options to tighten the partnership and increase its stake down the road.
Delphine Arnault — the daughter of LVMH chairman and chief executive officer Bernard Arnault and second in command at Louis Vuitton — was said to be instrumental in the de Vincenzo deal. She has emerged as a crucial talent scout for the group as the competition to acquire hot young designers — and engage and assist them via philanthropic endeavors — intensifies.
Later this week in Paris, Arnault is to welcome the 30 semifinalists competing for the inaugural LVMH Young Fashion Designer Prize, her latest high-profile initiative.
De Vincenzo becomes the fourth designer in the last two years to attract money from LVMH’s rich coffers, joining Paris-based Maxime Simoens and London designers J.W. Anderson and Nicholas Kirkwood on its roster of fashion names, which includes Fendi, Givenchy, Céline, Kenzo and Loewe, for which Anderson was appointed creative director.
Rival French group Kering has also bagged some buzzy names, last year taking a 51 percent stake in London-based Christopher Kane and making a minority investment in Altuzarra, the New York-based house of designer Joseph Altuzarra.
After launching his collection during Milan Fashion Week in September 2009, the 34-year-old de Vincenzo won Vogue Italia’s “Who Is on Next?” competition.
Since then, he has gained a reputation for sophisticated fashions that marry a classic, sporty allure with intense fabric research and optical effects.
Backstage at his show Sunday, the designer enthused that the LVMH transaction would give him the support needed to take his business to the next level.
“I needed to make my research stronger, and they are the perfect partner,” he said.
De Vincenzo honed his skills with innovative materials at Fendi, where in 2000 he began helping Silvia Venturini Fendi design the brand’s accessories collections.
It is understood de Vincenzo will continue to consult for the Roman fashion label, which, in a precursor to the joint venture deal, began providing logistics and operational support to his rtw label.
WWD first reported that LVMH had its eye on the designer in September 2012, when Fendi chairman and ceo Pietro Beccari attended de Vincenzo’s show and acknowledged LVMH’s interest in his signature brand.
At present, de Vincenzo wholesales his collection to about 20 specialty stores.
While positioned in the designer segment, de Vincenzo’s dresses retail for between 900 euros and 1,600 euros, or $1,235 and $2,200 at current exchange; outerwear comes in at about 1,200 euros, or $1,650, while knitwear runs from 600 to 1,100 euros, or $825 to $1,510.
De Vincenzo is poised to become the latest member of the Fendi studio to make a name for himself beyond the Roman house, which is to fete its 90th anniversary next year. Famous Fendi alumni include Gucci’s creative director Frida Giannini and Valentino design duo Maria Grazia Chiuri and Pierpaolo Piccioli.
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye
Did you know: @carlychaikin of "Mr. Robot" has been painting for about a decade? The actress, who plays Darlene on the show, is a self-taught artist who lists Salvador Dalí and Chuck Close as some of her idols. Chaikin told WWD that painting is a form of meditation for her — A much-needed one given the intensity of "Mr. Robot." See a piece Chaikin is working on at WWD.com (📷: @jilliansollazzo) #wwdeye