LVMH Invests in Maxime Simoens
Apr 19, 2012 - by Lester Brathwaite
While he may have denied and denied dealings with Dior, Maxime Simoens is becoming part of the LVMH Moët Hennessy Louis Vuitton family nonetheless. Bernard Arnault is said to be investing in the 27-year-old couturier's eponymous line, only weeks after his departure from Leonard.
Arnault, who in the past has gobbled up luxury fashion houses Pac-Man-style, has eased his megalomaniacal machinations as of late since the multi-billion dollar takeover of Bulgari last year. Europe's richest man, however, hasn't invested in a small fashion brand since LVMH bought a 40% stake in Edun, the eco-conscious label founded by Bono and wife Ali Hewson, in 2009.
So why Simoens? Why now?
They [LVMH] do believe in him, and want to finance him, a source told WWD. It seems Bernard Arnault wants to keep the fresh-faced fashion foal within claw's reach should another head designer fall ever so publicly from grace. Arnault is famous for plucking young talent to revitalize staid, old houses, and with a stable of brands that includes Givenchy, Céline, Fendi and Vuitton, for Simoens, a deal with Bernard and co. makes dollars and sense. [WWD, sub req'd]