Luxury conglomerate PPR has acquired a 51% stake in Christopher Kane.
The London-based label, founded by Christopher and his sister Tammy, has had a meteoric rise through the fashion ranks since the Central Saint Martins graduate blazed onto the scene with his collection of neon body con dresses in 2006.
“We are very excited and honoured to be partnering with PPR for the next stage of development for our brand,” says Christopher. “PPR have an incredible reputation for building some of the very best luxury brands in the world. They respect our creative vision and they have the expertise and experience to help us build the Christopher Kane brand globally.”
The deal, about which there have been whispers since November, is a significant step forward in the label’s growth, grouping it with existing PPR powerhouses such as Gucci, Bottega Veneta and Saint Laurent Paris. In a statement, the company notes that the move fulfills its “mission to empower new creative talent”.
"Christopher Kane is a rare thing: one of the most talented designers of this generation as well as one of the most astute businessmen," says ELLE Editor-In-Chief Lorraine Candy. "Along with his partner and sister Tammy they have grown this brand cleverly and with a foolproof long term strategy. They have been smart and worked very hard. I can only expect big things going forward."
Says ELLE Fashion Features Director Rebecca Lowthorpe of Christopher: "It would seem that while he didn't get the Balenciaga job (that going to Alexander Wang), he did one better and forged a deal with PPR the luxury conglomerate that owns Balenciaga - the industry's greenhouse when it comes to growing young talent. PPR also has stakes in Alexander McQueen and Stella McCartney. This is a huge deal for a British designer."
The British Fashion Council has also offered its congratulations to the London Fashion Week designer: 'This morning’s announcement is great news for Christopher Kane and high end British designers alike,' says Caroline Rush, CEO of the BFC. 'We have an incredible group of designers in London with the potential to become global brands of the future. Our hope is that this partnership signals confidence in British designer businesses and is the start of a series of new investments in the world’s most innovative talents.'