mergers and acquisitions

Nicholas Kirkwood Gets Some of That LVMH Cash

Photo: Nicholas Kirkwood

LVMH announced today that it has taken a majority stake in CFDA/Fashion Fund winner Nicholas Kirkwood, a company it’s been eyeing since March. The brand will be under the LVMH fashion group, which includes Celine, Givenchy, and Marc Jacobs, reports WWD. The peddlers of decadently quirky footwear are already popular — Nicholas Kirkwood’s wares are sold in 150 department stores, and there are flagship stores in London, New York, and Las Vegas. So what’s next for the brand LVMH intends to turn into a powerhouse? “Handbags.” Duh.