LVMH Names UK’s Sarah Burton Givenchy Creative Director

FILE PHOTO: Sarah Burton holds the British Brand award on behalf of McQueen at the Fashion Awards 2016 in London, Britain December 5, 2016. REUTERS/Neil Hall/File Photo
FILE PHOTO: Sarah Burton holds the British Brand award on behalf of McQueen at the Fashion Awards 2016 in London, Britain December 5, 2016. REUTERS/Neil Hall/File Photo
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LVMH Names UK’s Sarah Burton Givenchy Creative Director

FILE PHOTO: Sarah Burton holds the British Brand award on behalf of McQueen at the Fashion Awards 2016 in London, Britain December 5, 2016. REUTERS/Neil Hall/File Photo
FILE PHOTO: Sarah Burton holds the British Brand award on behalf of McQueen at the Fashion Awards 2016 in London, Britain December 5, 2016. REUTERS/Neil Hall/File Photo

French luxury goods company LVMH named on Monday Sarah Burton, the longtime-Alexander McQueen designer behind the Princess of Wales' 2011 wedding dress, as the new creative director for its Givenchy label.
The choice of the seasoned British designer, who joins Givenchy after nearly three decades at rival Kering's Alexander McQueen label, signals a new aesthetic direction for the label, filling a role covered by design teams since the end of last year, Reuters reported.
Her predecessor, Matthew M. Williams left Givenchy in December after three years. Known for his streetwear approach, Williams had mixed hoodies into lineups of sharp tailoring on the Paris catwalk, and embellished bags and shoes with prominent zippers and extra straps.
Burton, a famously discrete designer with a loyal following and strong design credentials, is known for flattering, deconstructed styles at McQueen, and carrying on the legacy of the label's founder, Lee McQueen following his death.
She had worked alongside him for fourteen years before becoming creative director in 2010.
Kering late last year, as part of an expansion drive at McQueen led by CEO Gianfilippo Testa, replaced her with a relatively unknown designer, Sean McGirr.
Burton will present her first collection for Givenchy next March, LVMH said.
"The arrival of Sarah Burton as head of our creative design is a very exciting moment for Givenchy," Givenchy CEO Alessandro Valenti said in a statement.
"Her remarkable career path and creative vision have already won her a vast fan base, and we are certain that under her direction, Givenchy will continue to innovate and captivate an extensive audience across the world stage," he added.



Zara Founder Ortega triples investment in energy assets

Shoppers walk past a Zara clothes store, part of the Spanish group Inditex, in Las Palmas de Gran Canaria, Spain, December 13, 2022. (Reuters)
Shoppers walk past a Zara clothes store, part of the Spanish group Inditex, in Las Palmas de Gran Canaria, Spain, December 13, 2022. (Reuters)
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Zara Founder Ortega triples investment in energy assets

Shoppers walk past a Zara clothes store, part of the Spanish group Inditex, in Las Palmas de Gran Canaria, Spain, December 13, 2022. (Reuters)
Shoppers walk past a Zara clothes store, part of the Spanish group Inditex, in Las Palmas de Gran Canaria, Spain, December 13, 2022. (Reuters)

Zara founder Amancio Ortega's investment firm Pontegadea almost tripled its investments in renewable energy projects last year, building on its push to diversify the Spanish billionaire's fortune beyond his fashion empire and real estate.

According to 2023 financial statements filed with the Mercantile Register and seen by Reuters, the family office of the main owner of Zara mother company Inditex poured 693 million euros ($766.87 million) into wind, solar and other energy assets in Spain and France, up from 273 million in 2022.

The bet on renewable energy comes at a time when Inditex itself has set new targets to reduce its environmental impact by 2030 and respond to regulatory pressures.

Pontegadea said it will not provide additional information about its annual reports.

For years, Ortega's family firm has favoured real estate to invest the hefty returns of its core fashion business, buying logistics centres used by large global companies, such as Fedex and Amazon, luxury buildings in the United States and Europe, as well as offices and stores.

Ortega controls 59.29% of Inditex capital trough Pontegadea Inversiones and Partler Participaciones, and his family office received 2.2 billion euros worth of Inditex dividends in 2023.

Ortega's investment vehicle bought logistics centres and buildings in Ireland, the Netherlands and Luxembourg in 2023, continuing to build a property portfolio that exceeded 13 billion euros, according to the filings.

Pontegadea also invests in real estate assets worldwide through other firms and received at least 548 million euros from rents in 2023, 17% more than a year earlier.

It reported a list of minority stakes in 13 energy assets at the end of 2023, most of them in Spain after signing several deals with energy firm Repsol to buy stakes in wind and solar farms.

It also has minority holdings in three French wind energy parks in the Montagne d'Ardéche, Taillades Sud and Champagne Picarde areas.

In 2022, Pontegadea bought a 5% stake in Spanish gas grid operator Enagas and its hydrogen and renewables unit Enagas Renovable.