<p class="Default">PPR has bought a
majority stake in Christopher Kane, signifying a new stage in the label's international
growth. The luxury conglomerate has acquired a 51 per cent stake in
the label, which was originally founded in 2006 by Scottish-born
Kane and his sister, Tammy.
<p class="Default">"We are very excited and honoured to be
partnering with PPR for the next stage of development for our
brand," said Kane. "PPR has an incredible reputation for building
some of the very best luxury brands in the world. They respect our
creative vision and they have the expertise and experience to help
us build the Christopher Kane brand globally."
<p class="Default">PPR aims to provide "the support the label needs
to grow to the next level" - as a statement read today. The
multinational company has a strong reputation for helping to
accelerate the growth of luxury brands, including Stella McCartney and Alexander McQueen - who both belong to the company's portfolio, along
with fellow fashion heavyweights Balenciaga and
Gucci. Speculation
about a possible deal between Kane and PPR first emerged in
November last year.
<p class="Default">"Christopher is a truly great talent who has
shown a real sense of modernity in the way he mixes elegance and
subtle constructions," said PPR chairman and CEO François-Henri
Pinault. "In just a few years, he has built a very distinctive and
exciting brand with a unique DNA. I am delighted that Christopher
Kane is joining PPR's portfolio of luxury brands and working with
us to further develop its business as a global luxury brand.
Christopher Kane is already established as a luxury label and has a
tremendous intrinsic growth potential. We thus have great ambitions
for the brand and will enable it to benefit from our expertise and
know-how, while providing the space for it to further develop its
own creative identity."
<p class="Default">The sale - PPR's first acquisition of a British
luxury brand since buying Alexander McQueen in 2001 - puts the
spotlight on London's fashion industry, serving as an
international showcase for one of the capital's foremost rising
design stars - one who has been nurtured through its various
support initiatives, including the BFC/Vogue Designer Fashion Fund, which Kane won in 2011, and the British
Fashion Council's Fashion Forward and NEWGEN schemes.
"Christopher has shown himself to be one of the great designers of his generation," said Vogue editor Alexandra Shulman. "His creative energy is demonstrated every season as he delivers beautifully crafted and imaginative collections. He and Tammy deserve the kudos that this investment will bring and will undoubtedly now be able to grow their label into something even more exciting and international."
The British Fashion Council congratulated the designer on his new partnership.
"This morning's announcement is great news for Christopher Kane and high-end British designers alike," said BFC CEO Caroline Rush. "We have an incredible group of designers in London with the potential to become global brands of the future. Our hope is that this partnership signals confidence in British designer businesses and is the start of a series of new investments in the world's most innovative talents."
"Christopher and Tammy have built a brand that pushes the creative boundaries season after season making their show one of the hottest tickets of the global fashion calendar. This partnership will allow them to continue to grow their business and continue to have creative independence. Congratulations to them both."
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