Image: Philo

Three and a half years after leaving LVMH Moët Hennessy Louis Vuitton-owned Celine, where Hedi Slimane now holds the top spot, Phoebe Philo is launching a new label under her own name. The news, which was confirmed by the soon-to-launch brand in a release on Monday, follows from months of mounting rumors that Ms. Philo was reportedly building a team in London for a new venture after remaining largely out of the picture since her departure from Celine in December 2017. “Being in my studio and making once again has been both exciting and incredibly fulfilling,” Philo, 48, said in the announcement. “I am very much looking forward to being back in touch with my audience and people everywhere.”

Details about the new label are relatively scarce but what has been made clear: Philo has an investor in LVMH, which has taken a minority stake for an undisclosed sum. “I have had a very constructive and creative working relationship with LVMH for many years,” the cult-followed designer said. “So, it is a natural progression for us to reconnect on this new project. I have greatly appreciated discussing new ideas with Bernard Arnault and Delphine Arnault, and I am delighted to be embarking on this adventure with their support.” Despite having LVMH’s money and muscle in fray, the brand will be “independent” from the luxury goods titan, with Philo saying that being “independent [and] to govern and experiment on my own terms is hugely significant to me.”

Mr. Arnault called Philo “one of the most talented designers of our time” in a statement on Monday, and said, “We have known her and appreciated her for a long time. Phoebe contributed to the success of the group through her magnificent creations over several years. With this in mind, I am very happy to partner with Phoebe on her entrepreneurial adventure and wish her great success.”

Philo, who captivated women by way of her work at Richemont-owned Chloé and during her 10-year tenure at Celine, where she was known for her modern luxury apparel and “it” bags, as well as her opposition to social media and e-commerce, revealed that more information about the brand will come early next year. Until then, Philophiles – the name given the die-hard fans of the esteemed designer – will have to wait and presumably, save. After all, in addition to being known for the thoroughly coveted nature of her Celine offerings, Philo’s wares were notorious for their eye-watering price tags.