Karl Lagerfeld has signed another long-term contract with Fendi, continuing an association that has endured for half of the house's 80-year history.
Luxury goods maker LVMH Moet Hennessy Louis Vuitton SA confirmed that it has signed a new contract with Karl Lagerfeld who will remain creative director at Fendi.
In a statement released to coincide with the opening of Fendi's 117th store in Rome, LVMH, the world's biggest luxury goods maker, said "cooperation (with Lagerfeld) has been renewed and strengthened".
But Paris-based LVMH, the home of brands from Dior to Dom Perignon, didn't disclose terms of the new contract for Lagerfeld.
Lagerfeld, also head designer at privately held French fashion house Chanel, has expressed discontent with management strategy at Fendi in the past.
Founded as a furrier but now a fully - fledged luxury brand, Fendi has been in decline recently.
Fendi was acquired by LVMH in a gradual process starting in 1999 that has cost the French company upwards of EUR1 billion.
Lagerfeld said he's happy to continue working with both Fendi and Arnault.
Progress in turning Fendi around is viewed by analysts as a key factor in LVMH's progress going forward.
German-born Karl Lagerfeld has been designing since the 50's. He designed his first collection for the House of Balmain when he was 17-years-old. to Jean Patou, to brief periods at Krizia, Charles Jourdan, and Valentino arriving to Fendi, Chloe, and Chanel.
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