LVMH Takes Minority Position In Stella MCCartney | Makes Stella Sustainability Adviser To Arnault

Stella McCartney at her fall 2019 women’s show in Paris.CreditStephane Mahe/Reuters

Stella McCartney at her fall 2019 women’s show in Paris.CreditStephane Mahe/Reuters

Stella McCartney is making front page news with the announcement that the designer, who abandoned her relationship with Kerring in 2018, has now joined forces with LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury group.

McCartney will remain in her role as her brand’s creative director and also as majority stockholder in the Stella McCartney business. Her additional responsibilities include becoming a special adviser to Bernard Arnault, LVMH’s chairman, and also to the LVMH board, on the topic of sustainability.

The fashion industry has an enormously negative and earth-harming footprint on the environment, and no one in fashion world is better prepared to fill this role of LVMH adviser on sustainability than Stella McCartney.

The addition of Stella McCartney’s voice and brand to the LVMH creative and leadership stable underscores the company’s commitment to gender equity. Since 2017, LVMH has named Maria Grazia Chiuri to head Dior and Claire Waight Keller to lead Givenchy. Arnaut has taken a minority position in the also sustainability-focused Gabriela Hearst, while creating a blockbuster disruption of the entire luxury industry with the creation of a new fashion house Fenty, created with Rihanna.

In talking about her new partnership, Stella McCartney said that since ending her partnership with LVMH rival Kerring, she had been pursued by many potential partners and investors wanting to help expand her business.

In the end, McCartney made a seemingly wise decision, one that gives her an opportunity to have heavy influence on issues that matter to her a great deal, while tapping into funding and a professional contacts base that will give her enormous flexibility. The importance of Stella’s access to Arnault and the LVMH board of directors can’t be understated.

“The chance to realize and accelerate the full potential of the brand alongside Mr. Arnault and as part of the LVMH family, while still holding the majority ownership in the business, was an opportunity that hugely excited me,” she said.

Angelina Jolie Speaks Candidly On World Refugee Day As New TIME Contributing Editor

Activist actor Angelina Jolie is now a monthly contributing editor at TIME magazine.

Editor-in-chief and CEO Edward Felsenthal announced that Jolie’s essays will focus on topics related to human rights and displacement, issues front-of-mind for the humanitarian who has worked with the UN Refugee Agency for 18 years.

Jolie’s seven-years as Special Envoy to the United Nations High Commissioner for Refugees has put the world’s humanitarian crises front and center in online media. She has carried out more than 60 field missions to countries including Colombia, Peru and Bangladesh, the magazine said in its statement.

Jolie first official piece was published to coincide with World Refugee Day, June 20, with the title Angelina Jolie: What We Owe Refugees. She argues: "Under international law it is not an option to assist refugees, it is an obligation," she writes. "It is perfectly possible to ensure strong border control and fair, humane immigration policies while meeting our responsibility to help refugees."

On April 10, 2019 the actor, who returns to the big screen in October 2019, playing the villain in Maleficient2: Mistress of Evil with fellow actors Elle Fanning and Michelle Pfeiffer, wrote her first unofficial TIME essay Angelina Jolie: Why Women Are the Key to Lasting Peace in Afghanistan.

Anne of Carversville had a birthday this week, 12 years old on June 17. AOC came to life seemingly out of nowhere, inspired by my reading our founding muse Angelina Jolie’s Esquire interview. Her thoughts marked a turning point in my life: Smart Sensuality Angelina Jolie: Virtue Considered in Carversville's Country Air.

Angelina is one of the many Winning Women in Action we track on AOC.

Enjoy reading all of Angelina Jolie’s AOC Archives.

Tory Burch Asks Forbes Summit Why The Debate Around Equal Pay For Women Continues

Tory Burch CEO at Forbes Women’s Summit 2019.

Tory Burch CEO at Forbes Women’s Summit 2019.

Forbes considers Tory Burch to be one of America’s richest self-made women, estimating her net worth at $850 million. Judged today by her competence, strategic thinking and brand positioning, Tory Burch, who previously worked at Ralph Lauren and Vera Wang, says that when she launched her lifestyle brand in 2004, she wan’t taken very seriously.

Fashion is a notoriously cut throat, competitive business, but Burch says the business world piled on a whole other layer of value judgments, considering Tory Burch to be her vanity project. Burch told the audience at the Forbes Women’s Summit. “I was introduced as a female CEO. I was like, ‘When is a man introduced as a male CEO?’”

Burch joined ultimate equal-pay activist Lilly Ledbetter to discuss the impact of the gender pay gap in a Forbes Women’s Summit discussion moderated by Cosmopolitan editor Jessica Pels. Ledbetter is known as the Alabama area manager at a Goodyear plant who learned through an anonymous note that she was paid 35%-40% less than men in her same position.

Ledbetter’s case wound its way through the US court system, until the Supreme Court in 2007 overturned a $3 million verdict in her favor, ruling that pay discrimination lawsuits must filed within 180 days of her first unequal paycheck. President Obama effectively nullified the court’s decision in 2009, making the Lilly Ledbetter Fair Pay Act, the first new law of his administration. Obama stipulated that the statute of limitations for filing equal-pay lawsuits based on pay discrimination resets with each new paycheck that is part of the discriminatory act.

Burch told the audience that she is incredulous that the gender pay gap persists in 2019. “It’s an issue of humanity,” she said. “Women are 50% of the population. I don’t understand why this debate is still going on.” The CEO also appealed to the interests of men, saying “Pay equity affects men, too, because no man wants his sister or daughter to be treated differently in the workplace.”

To aid in that effort Burch launched a charitable foundation dedicated to women entrepreneurs in 2009. In 2017 Burch’s foundation launched a campaign called “Embrace Ambition” that included a social media campaigns under the hashtag “#EmbraceAmbition,” a fellowship program targeting women entrepreneurs and a speaker series across major U.S. cities.

Forbes writes that this past March, Bank of America committed $100 million to give access to affordable loans to women entrepreneurs. The pledge was converted to action, with Bank America lending more than $50 million in loans have been issued to 2,500-plus women entrepreneurs.

Equal pay activist Lilly Ledbetter at Forbes Women Summit 2019

Equal pay activist Lilly Ledbetter at Forbes Women Summit 2019