LVMH has bought a stake in Nicholas Kirkwood's designer shoe line.
The luxury brand - which counts Louis Vuitton, Givenchy and Marc Jacobs among its impressive properties - has announced it will bankroll the fledgling footwear company led by British fashion designer Nicholas Kirkwood.
Nicholas will continue to concentrate on the creative direction of his brand, while LVMH will provide the company resources to expand internationally.
The designer said in a statement: ''It's with great excitement and pride that I enter this partnership. LVMH is home to the most celebrated and revered brands and talents in our industry, and has an implicit understanding of luxury. From my first meeting with Delphine Arnault and Pierre-Yves Roussel of LVMH, it was clear that LVMH would be the best partner for our brand, as we have the same values of design, creativity and craftsmanship.''
Delphine, who is the daughter of LVMH chairman Bernard Arnault, spearheaded efforts to bring Nicholas Kirkwood into the company's impressive portfolio of brands.
LVMH will seek to create a Nicholas Kirkwood retail chain and expand the brand's fashion range by introducing handbags.
Delphine added: ''We are delighted to welcome Nicholas Kirkwood in the LVMH group. Nicholas' talent for shoe design is truly exceptional and I am especially impressed with his commitment to innovation and craftsmanship. Throughout our meetings, I was particularly struck by his entrepreneurship and discovered rapidly that we both discovered the same vision and beliefs.''
Gwyneth Paltrow, Sarah Jessica Parker and Jennifer Lawrence are among the stars who've been seen in Nicholas Kirkwood shoes.