Arnault to invest in Maxime Simoens

LVMH chairman Bernard Arnault is making an investment

in newcomer Maxime Simoens. According to WWD, industry sources say that Arnault will take an as yet unknown stake in the 27 year old Frenchman's eponymous brand. This would be an exceptional move for the businessman, who rarely invests in small, little-known brands. The last time was in 2009 when LVMH took a 49 percent stake in the socially conscious brand Edun, the brainchild of U2 rocker Bono and his wife Ali Hewson.

According to rumors which he always denied Simoens was being courted by Christian Dior, until Belgian designer Raf Simons recently took the helm as creative director of the storied fashion house.

Simoens, who studied fashion at the Ecole de la Chambre de la Haute Couture, has a ready-to-wear collection which he shows during the couture week in Paris. The two-year-old brand already counts celebrities such as actress Rachel McAdams amongst its fans.

LVMH has declined to comment.