Stella McCartney bought the brand from Kering
Kering has announced that it is selling its stake in the Stella McCartney brand after 17 years of partnership. Under the terms of the agreement, Stella McCartney had the opportunity to redeem the company until March 31, 2018. The joint venture Kering and Stella founded in 2001, each of them had an equal share in the business – 50% each. There are rumors that the purchase of shares was financed by Stella’s father, musician Paul McCartney. But the representatives of the designer say that he never dealt with this issue. Stella McCartney himself has repeatedly stated that the father has nothing to do with the finance plan for her career and her brand. The designer notes that his father supports her exclusively morally, and not materially.
“This is the right time to take full control of the company that bears my name,” says designer Stella McCartney, “This is a very important decision for me.” I’m grateful to François-Henri Pinot, his family and Kering for everything we do have been created over the past 17 years, and I’m looking forward to the next chapter in my life and what the Stella McCartney brand will be able to achieve in the future. “
“It’s time for Stella to move on to a new stage,” adds François-Henri Pinot, Kering’s CEO, “Our company helps creative people translate their ideas into reality.” I’m proud of the collaboration between Kering and Stella McCartney. “
While Kerring and Stella McCartney acknowledged that negotiations on the termination of the treaty were repeatedly discussed about their 17-year partnership, the exact reasons for this decision are not yet known. The reported split comes at a time when Kerring arranges his portfolio and focuses on blockbuster brands, including Gucci, Saint Laurent and Balenciaga. In early January, the group announced that it would break away from German sportswear Puma, gradually promoting the parent company to becoming a separate brand of luxury clothing.
Recall also that Kering is a conglomerate in the luxury segment, which also owns the brands Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, etc.