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Richemont: to form joint venture with designer Alber Elbaz

( - Swiss luxury group Richemont has signed a joint venture agreement with Alber Elbaz as part of a move to create an "innovative and dynamic start up.

Richemont - which owns the Cartier and Van Cleef & Arpels brands - said the joint venture will be called "AZfashion" and will become Elbaz' "dream factory".

To begin with, the project will concentrate on women's collections.

In 2015 Alber Elbaz was ousted from his position of creative director of Lanvin after working there for more than 10 years.

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