Christopher Kane In Talks With Kering
British designer Christopher Kane has started talks with parent company Kering to buy back his eponymous brand as the luxury fashion giant prioritises their fastest-growing fashion labels. After only acquiring the company five years ago, the French conglomerate controls a 51% stake in the 12-year-old brand. Kering have not given much away, but said in a statement yesterday, “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.”
The talks have started just months after Kering sold Stella McCartney’s namesake brand back to her following their 17-year-long partnership. Kane’s label is high respected throughout the industry, including being one of the hottest collections to see at London Fashion Week, however, in comparison to some of Kering’s other labels, it’s a relatively small part of the organisation. Although they assisted Kane in opening his standalone store on Mount Street and launching his e-commerce site, revenues have not massively increased since the 2013 acquisition. Christopher Kane generated £6.97 million, according to filings with Companies House in the UK and three years later, revenue stood at £7.8 million.
Following the announcement that Kering would also be open to selling skate wear brand Volcom and spin-off its 86 percent Puma holding, it’s clear that the company’s focus has been turned to the bigger, luxury brands. Gucci, Saint Laurent and Balenciaga have all seen incredible growth in recent years, making them some of the most powerful fashion houses in the world. The smaller labels, such as the Kane’s and the McCartney’s, are simply not being prioritised and don’t look to be in the future plans of the Kering Group.