LVMH Said in Advanced Talks to Acquire Anderson After Kirkwood
Stock Chart for LVMH Moet Hennessy Louis Vuitton SA (MC)
LVMH Moet Hennessy Louis Vuitton SA (MC), the world’s largest luxury-goods company, is in advanced talks to acquire a stake in fashion designer J.W. Anderson, according to two people familiar with the situation.
LVMH, which said today it had taken a majority stake in British shoemaker Nicholas Kirkwood, could sign a deal with London-based Anderson as soon as this month, said the people, who asked not to be named as the information is confidential.
Jonathan William Anderson set up the label bearing his name in 2008, three years after graduating from London College of Fashion. He has collaborated with Gianni Versace SpA and Philip Green’s Topshop. Kirkwood, who trained at Central Saint Martins and Cordwainers College, founded his brand in 2004, and has twice been named accessories designer of the year at the British Fashion Awards.
LVMH, which in July bought cashmere clothier Loro Piana SpA for 2 billion euros ($2.7 billion), said today its purchase of Kirkwood affirmed its commitment to nurture talent and creativity. Acquiring a stake in Anderson would underscore the growing appeal of emerging designers to large luxury groups as they seek to keep shoppers interested.
LVMH acquired French fashion label Maxime Simoens in February, while Gucci-owner Kering SA (KER) bought stakes in designers Christopher Kane in January and Joseph Altuzarra this month.
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