LVMH has created a special new prize for young designers named after Karl Lagerfeld, whose own career was ignited by winning an award. The LVMH Prize's Special Prize will now be known as the Karl Lagerfeld Prize.
From new labels to store openings and marketing campaigns, the French luxury group continues to invest on all fronts, notably in its fashion business, whose sales boomed in H1 2019, driven by Dior and Louis Vuitton.
After losing the profitable Gucci licence in 2017, the Italian eyewear group has announced the end of the long-standing deal with Dior, whose licence will go to Thélios, the company set up by LVMH and Marcolin.
LVMH is one of France’s most valuable groups, and chairman Bernard Arnault is Europe’s richest man, yet the luxury baron insisted on Thursday at the annual shareholders meeting that it's really just a family affair.
Fashion designers, being ultimately artists, rarely have straight-line careers - one reason for the huge applause that greeted the culmination of the debut show of Aldo Maria Camillo in Florence on Thursday evening.