LVMH has announced a new deal with 33-year-old British footwear designer Nicholas Kirkwood, which sees the French company take a majority stake in the business.

Kirkwood’s distinctive designs are currently available in around 150 luxury stores around the world, including his recently opened Las Vegas flagship, and the young designer described himself as excited and proud to be entering into the venture: “LVMH is home to the most celebrated and revered brands and talents in our industry, and has an implicit understanding of luxury,” he explained.

“We discovered rapidly that we shared the same vision and beliefs,” said LVMH heiress Delphine Arnault, “we want to allow him to further explore the boundaries of his creativity while the brand will benefit from LVMH’s expertise”. So what’s the next step for Kirkwood? All signs point to a handbags and accessories collection.

Earlier this year LVMH also invested in young French ready-to-wear designer Maxime Simoens, part of a bigger trend for talent-spotting in the fashion industry.

In January this year Christopher Kane gained a giant boost when French luxury group Kering purchased 51% of the Scottish designer’s label. The French company then swooped again this month, taking a minority stake in Franco-American womenswear designer Joseph Altuzarra’s namesake label.