Christopher Kane in talks with Kering to buy back control of label
Christopher Kane is in talks to buy back his fashion house from Kering as the French luxury giant continues to focus its attention on its fastest-growing power brands. Kering owns a controlling (51%) stake in the 12-year-old company, having acquired it five years ago.
The company has given out little information, simply saying in a statement late Thursday that “discussions are underway with Mr Christopher Kane about the conditions in which the British designer could take back full control of the eponymous brand. Christopher Kane and Kering wish to continue to collaborate with the aim of achieving a gradual and harmonious transition.”
Kane’s label is a relatively small part of the Kering operation but is nonetheless a respected one with his signature mix of glamour and fashion risk-taking having made him one of London Fashion Week’s hottest tickets.
But small isn’t really where Kering wants to be right now as its bigger labels really are the growth engine of the group.
The Christopher Kane talks come after the luxury group reached a deal with Stella McCartney back in March to sell her its 50% stake in her label, making her the sole owner of the brand.
And in April Kering said it would sell skatewear brand Volcom as it also prepared to spin-off its Puma holding.
The company’s focus on its bigger luxury brands makes good commercial sense. In Gucci it has a high-end powerhouse that’s one of the most influential labels in the world. And with dynamic growth also being turned in at Saint Laurent and Balenciaga, plus a new designer in place who Kering must be hoping will achieve the same effect at Bottega Veneta, smaller labels such as Kane’s and McCartney’s are clearly unlikely to be the group’s priority.
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