Stella McCartney Partnership with Kering gets upgraded
Stella McCartney, a British designer, today confirmed the end of her 17-years partnership with Kering Foundation.
The daughter of the Beatles’ Paul McCartney is preparing to take full control of her brand after buying out half of her label by March 31.
“It is the right moment to acquire the full control of the company bearing my name,” McCartney said on Wednesday in her statement. Reminding us her last year statement where she said that she was looking forward to seeing fashion changing its sourcing and manufacturing practices "dramatically" in the future.
Kering Foundation, which works to stop violence against women, will continue to lend some support and services to the brand for a year, and the British designer is going to collaborate.
"This opportunity represents a crucial patrimonial decision for me. 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 said in a joint statement with Kering.
Their split will be final by the end of the first quarter of 2019.
McCartney launched her first eponymous label in 2001 in partnership with the Gucci Group, formerly a division of now Kering Foundation. Stella’s financial growth had slowed down in 2017 compared to previous years.
Kering nowadays focuses more squarely on high-margin luxury brands and builds up those with a high growth potential, therefore, they are working to spin off German sportswear label Puma to its own shareholders.
Stella McCartney latest collection of autumn and winter last week at Paris’ showed mix men and women’s clothing, and some designs such a jacket made from materials like alter nappa, an alternative to leather.