Altuzarra is the latest label to win the backing of Kering.
The luxury giant – which recently added Christopher Kane to its portfolio of labels such as Gucci, Yves Saint Laurent, Bottega Veneta, Alexander McQueen and Stella McCartney – has taken a minority stake, putting the eponymous Joseph’s fledgling business firmly in the fashion big league.
‘What I really loved about Kering was how they invested and helped brands from the ground up,’ the Paris-born designer tells WWD. ‘Alexander McQueen and Stella McCartney, they were tiny brands when Kering came in and I very much admire both of those brands. I think there’s a cohesiveness in their universe and a very idiosyncratic way of building their own worlds, which I really respect and admire. That is the kind of brand we would want to be down the line.’
The deal couldn't have gone through at a busier time, as he prepares to unveil his spring collection at New York Fashion Week tomorrow.
The size of Kering's stake – and, indeed, the money involved in the deal – have not been revealed, but Altuzarra says the company was ‘incredibly supportive’ of his desire to keep creative control.
His next big focus? Accessories – bags, specifically.
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