Stella McCartney has regained full control of her eponymous fashion brand.
After a stint at French fashion house Chloe, the British designer launched her own label in partnership with fashion conglomerate Kering in 2001.
Focusing on using sustainable and vegan-friendly fabrics, over the years McCartney has expanded the company to include swimwear, footwear, children’s clothes and activewear, and on Wednesday (28Mar18) confirmed she had made a deal with Kering chairman and chief executive officer Francois-Henri Pinault to buy back her business.
“It is the right moment to acquire the full control of the company bearing my name. This opportunity represents a crucial patrimonial decision for me,” she said in a statement. “I am extremely grateful to Francois-Henri Pinault and his family and everyone at the Kering group for everything we have built together in the last 17 years. I look forward to the next chapter of my life and what this brand and our team can achieve in the future.”
McCartney is acquiring Kering’s 50 per cent stake, meaning the 46-year-old will become the sole owner of the brand in its entirety. Though she is parting ways with the luxury giant, which also owns Gucci, Saint Laurent, Brioni and Balenciaga, McCartney plans on retaining a relationship with her former partners and will remain a board member of the Kering Foundation, which is dedicated to stopping violence against women, as well as an adviser on the field of sustainable fashion.
“It is the right time for Stella to move to the next stage. Kering is a luxury group that empowers creative minds and helps disruptive ideas become reality,” added Pinault. “I am extremely proud of what Kering and Stella McCartney have accomplished together since 2001. I would like to thank Stella and her team wholeheartedly for everything they have brought to Kering – far beyond business. Stella knows she can always count on my friendship and support.”
McCartney’s collections are currently available in more than 100 countries at wholesale, and through 51 free-standing stores including London, Los Angeles, Tokyo, Hong Kong and Dubai.
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