- Danielle Wightman-Stone |
Luxury conglomerate Kering has confirmed that it is in talks with British designer Christopher Kane to sell back control of his label, which it current owns 51 percent of.
In a short statement, Kering said that “discussions are underway with Christopher Kane about the conditions in which the British designer could take back full control of the eponymous brand”.
The conglomerate, which is home to brands including Balenciaga, Gucci and Saint Laurent, acquired 51 percent of Christopher Kane in 2013, and the move to sell the brand back to the designer comes after it sold back its 50 percent stake in British designer Stella McCartney’s label after a 17-year partnership.
Kering added in its statement that it had made an accounting provision to classify the brand as “Non-current assets held for sale and discontinued operations” in its next set of half-year numbers to June 30, 2018, which are due to be published on July 26.
“Christopher Kane and Kering wish to continue to collaborate with the aim of achieving a gradual and harmonious transition,” Kering concluded in its statement.