LONDON, United Kingdom — The world's largest luxury goods conglomerate, LVMH Moët Hennessy Louis Vuitton, has taken a minority stake in J.W. Anderson and hired Jonathan Anderson, the label's fast-rising London-based designer, to take the creative helm at Loewe, an LVMH-owned brand based in Madrid and best known for its leather goods.

The exact size of the stake and financial terms were not disclosed.

"When Delphine Arnault and I first met Jonathan, we immediately felt that we could help him express the full potential of his innovative, fast emerging and already influential brand. While discussing our partnership and as we got to know him better, it became clear that his understanding of all creative facets of a brand and his capacity to transform tradition into an exciting vision for the present would make him also the perfect creative director for Loewe," said Pierre-Yves Roussel, chairman and CEO of LVMH's fashion division, in a statement.

“For me, the process that led to this exciting partnership has been a natural one," added Anderson. "LVMH has the resources and expertise in sharp, modern luxury and I believe we can work together to create something new. I am equally thrilled to join the house of Loewe, one of the oldest leather-goods houses in the world, where I have found an exceptional craftsmanship combined with purity and lightness.”

Anderson, who was born in Northern Ireland and attended the London College of Fashion, has attracted considerable attention in recent seasons for his precise, ultra-modern approach to clothing, which often tests (and breaks) the traditional boundaries of gender.

“I am delighted to welcome Jonathan Anderson to Loewe to leverage the unique heritage of the house. His talent and his enthusiasm for the brand will definitely move Loewe forward to the next chapter of its history,” said Lisa Montague, chief executive of Loewe.

At Loewe, Anderson will succeed Stuart Vevers, who is exiting the Spanish brand after five years to join American accessories powerhouse Coach as the company's new executive creative director, replacing Reed Krakoff.

The current news comes only days after LVMH announced its decision to take a majority stake in London-based luxury footwear brand Nicholas Kirkwood.

Disclosure: LVMH is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholders' documentation guaranteeing BoF's complete editorial independence