LVMH Luxury Ventures invests in Gabriela Hearst
today Jan 14, 2019
LVMH Luxury Ventures, the fund launched by French luxury giant LVMH in 2017 to support emerging labels with investments from 2-5 million euros, has taken a minority stake in Gabriela Hearst, the New York-based womenswear label founded in 2015.
Financial terms of the deal and the size of the stake were not disclosed, but will permit Gabriela Hearst to expand its presence around the world, the house said in a press release.
The promising Uruguayan designer, based in New York, has developed a luxury womenswear and accessories range for her eponymous brand in the four years since its founding. She has won numerous accolades, amongst them the 2017 Woolmark Prize. Hearst, who still manages the family ranch in her native country, maintains an 'honest luxury' approach, distinguishing her creations with an "essentialist" line which highlights timeless craftsmanship over trends.
The label opened its first store in November 2018 on Madison Avenue and has a wide distribution network, half of which is in the United States. It is also sold at international concept stores and department stores including Net-A-Porter, MatchesFashion and MyTheresa.
This will be the third investment for LVMH Luxury Ventures, headed by Julie Bercovy, since the fund's creation in 2017, but the first in a creative label. The fledgling investment vehicle first took a minority stake in French niche beauty brand Officine Universelle Buly, and then in sneaker specialist Stadium Goods, since acquired by Farfetch.
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