LVMH invests in Gabriela Hearst
Gabriela Hearst has received a minority investment from LVMH Luxury Ventures, an LVMH sub-group that was launched in 2017 and invests in emerging brands.
Launched in 2015, Hearst creates timeless, luxury ready-to-wear and accessories that are not under the constraint of fashion trends. Under this ethos, Hearst focuses on sustainability, ensuring care and consideration behind the sourcing of its materials and the artisan behind the garments. A vision that has thus far been so well executed, that the company received the International Woolmark Award and was the 2018 finalist for the CFDA Womenswear Designer of the Year award.
Her brand is already garnering $15 million in sales and is stocked by MatchesFashion, Mytheresa and net-a-porter. She not only has a showroom in Paris, but has just launched a New York, Madison Avenue flagship store in November 2018, which is the only place in the world where a physical purchase can be made of her highly reputable handbag line (the Nina bag is the investment piece).
Whilst the terms of the deal or not known, LVMH, Luxury Ventures generally invest between €2 and €15 million per deal. With Bottega Veneta’s former Americas president Giuseppe Giovannetti taking the helm as chief executive for Hearst, her growth and expansion will certainly be an interesting one to watch over the years.