Young British talent JW Anderson is to become creative director at LVMH-owned Spanish leather goods house Loewe, it was revealed by the New York Times this evening. On top of that appointment, Anderson is also to be given an injection of cash for his eponymous label by the luxury goods conglomerate.

'It's very exciting,' he told the Times's Suzy Menkes. '[LVMH] excite me and they understand me... When you do this, you want people who believe in you.'

29-year-old Anderson, whose name is Jonathan, is the second British designer to head to the label. Stuart Vevers, formerly of Mulberry, held the job from 2007 until earlier this year.

Anderson's own line is 5 years old, but the designer has in that time moved from the London menswear circuit to womenswear, scaling both with apparent ease thanks to his eye-catching and boundary-breaking designs. He has also created a best-selling collaboration with Topshop, and more recently partnered with Donatella Versace on that label's diffusion Versus line.

The news comes after LVMH took a majority stake in British footwear designer Nicholas Kirkwood's business last week. It brings to mind the buying spree of the late 90s and early Noughties, in which the likes of Stella McCartney and Alexander McQueen were snapped up by foreign talent-hunters. These moves could mean yet another generation of British talent destined for the very top of the industry.