It seems LVMH has taken a new approach to its investment in young fashion brands having made a minority investment in 29-year-old French couturier Maxime Simoens. The company has snapped up between a 20-30 per cent stake in the business, according to an LVMH spokesperson. This means Mr Simoens will not officially become part of LVMH (not yet, anyway), but that the group will act as advisers on the growth of the brand – in particular, Dior chief executive Sidney Toledano, who was the driving force behind the investment. Dior, as the group likes to point out, is the main holding company of LVMH.
Mr Simoens had been rumoured as a candidate for the Dior artistic director job, and though that went to Raf Simons, Mr Toledano and Dior deputy managing director Delphine Arnault were impressed. Their first move now: helping Mr Simoens hold his debut ready-to-wear show on March 3 (he already does couture, which may seem odd, but it does not require the same up-front funding for wholesale orders as RTW). Read more