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Kering to end 17 year old partnership with Stella McCartney
Analyst reports that Kering is looking forward to putting in all its attention in its luxurious brands than concentrate on smaller brands, as they involve a lot of work with too much uncertainty with the payoffs they provide.
Luxurious French group Kering is in talks to end its 17 year old partnership with British fashion designer, Stella McCartney. A leading website reported that Kering is all set to sell its 50% stake in the company back to the talented designer who will completely be owning the business. It was earlier reported this month that Kering is planning to revamp itself as a pure luxury group.
Both Stella McCartney and Kering released a joint statement saying, “As often between stakeholders there are regular discussions about the future of the partnership. Any significant change to the current relationship would naturally be made public at the appropriate time.”
Kering boasts an ensemble of luxury houses like Alexander McQueen, Gucci, Saint Laurent and more. Stella McCartney is comparatively a smaller brand in the overall sum of of Kering.
As analyst reports that Kering is looking forward to putting in all its attention in its luxurious brands than concentrate on smaller brands, as they involve a lot of work with too much uncertainty with the payoffs they provide.
McCartney was is a vegetarian herself has made ethical fashion one of the highlights of her successful brand. She is known and has been widely appreciated for the use of animal-free and vegan alternatives in her work.
