PPR acquires label of British designer Christopher Kane
French luxury group PPR said on Wednesday it aims to reproduce its success with Alexander McQueen and Stella McCartney with its newly acquired ready-to-wear label of British designer Christopher Kane.
Alexis Babeau, managing director of PPR's luxury division, called the 30-year-old Kane a "unique British creative talent, he is one of the most talked about new designers of our time."
PPR announced on Tuesday it had acquired a 51-percent stake in Kane's label for an undisclosed price.
Babeau said PPR would protect Kane's artistic integrity and work with him on growing the brand.
"We think that we have a strong track record in backing young designers, Stella McCartney and Alexander McQueen, in the UK," he said. "Our intent is to replicate that success."
Babeau said sales by Alexander McQueen's label had multiplied by 12 times since it was acquired by PPR in 2001, and that Kane's label was already profitable.
Kane said he had talked with other luxury groups, but "the PPR model just fitted us perfectly" given its history of working with British brands.
"It's a really great prospect for the future," he said.
Babeau said that PPR did not intend to make any changes in the way label was managed and one of its first priorities would be to help Kane open its first retail boutique, probably in London.
Regarding products, Babeau said that Kane would remain a ready-to-wear brand but that it had room to grow into other categories such as accessories and leather goods.
"We are always looking to grow, and expand new categories and products is always important. It's key to moving forward," said Kane.
© 2013 AFP