The renowned British fashion designer and Kering, the global luxury group that also owns Gucci, Balenciaga, Saint Laurent, Alexander McQueen and Boucheron, among other luxury fashion brands, have been equal partners since 2001.
After 17 years of partnership with Kering, Stella McCartney has decided to purchase the fashion giant’s stake of her company and take the reins of her global fashion empire.
In a joint announcement, both parties assured that the transition will be smooth in order to maintain the brand’s momentum in the market. François-Henri Pinault, chairman and chief executive officer of Kering, said it was time for McCartney to move to the next stage.
Stella McCartney pointed out that it was an opportunity she couldn’t turn down:
“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.” – she said.
The designer will remain on the board of the Kering Foundation and will continue to collaborate with the French luxury giant on sustainability in fashion.
Since launching her business with Kering, she has been a sustainability pioneer. Back then, it seemed almost ridiculous that a designer would consider the faux leather or fur as luxury goods. Now, leading brands such as Giorgio Armani, Gucci or Versace, among others, are working on fur-free collections.
McCartney has been a promoter of Kering’s association with London’s Centre for Sustainable Fashion to support eco-friendly practices in the fashion industry, and both parties are interested to continue this successful collaboration in the future.