LVMH exits Stella McCartney stake amid luxury market shift
LVMH is selling its 49% stake in Stella McCartney back to the brand’s founder as part of its efforts to streamline its portfolio amidst a downturn in the luxury market. The terms of the sale were not disclosed, and LVMH’s shares saw a slight decline following the announcement. This sale follows other recent moves by LVMH, including the offloading of Off-White and its stake in Cruise Line Holdings. Stella McCartney, known for eco-friendly and animal-free designs, had sales of 40 million British pounds in 2022, but also posted an operating loss. McCartney will continue to advise LVMH on sustainability matters.