LVMH has reached a deal with British fashion designer J.W. Anderson, appointing him creative director for its high-end handbag brand Loewe.

LVMH is also taking a minority stake in J.W. Anderson's label, the French company said in a statement. Financial terms were not disclosed.

LVMH, the world's biggest luxury goods group, already revealed last week it was investing in another budding UK label, shoe designer Nicholas Kirkwood.

Born in Northern Ireland, Jonathan William Anderson, 29, is known for his urban, androgynous style. He graduated in 2005 from the London College of Fashion where he studied menswear. He launched his own label three years later, and created a small, one-off collection for Versace's Versus line.

His appointment as Loewe's creative director comes amid intensifying competition among luxury groups such as LVMH and Kering SA to lock in promising designers who could someday work for some of their bigger names.

Anderson will succeed Stuart Vevers, who left the Spanish brand earlier this year to join Coach as executive creative director.