Stella McCartney is Buying Back her Brand!
After 17 years of partnering with Kering, Stella McCartney finally decided to buy back the second half of her brand. She made this decision in a bid to safeguard her name for the future and to build an independent business.
However, McCartney isn’t planning to retire from her position as a member of the Kering Foundation board. She will continue to collaborate with the French brand.
“I have had an incredible relationship with Kering, and first and foremost with the Pinault family, whom I consider to be great friends. I’m incredibly close to them. We had such a successful business together, an incredible partnership. We never had any hiccups,” says the fashion designer.
François-Henri Pinault, chairman and chief executive officer of Kering, released in a statement on Wednesday: “Kering is a luxury group that empowers creative minds and helps disruptive ideas become reality. I am extremely proud of what Kering and Stella McCartney have accomplished together since 2001”. “Stella knows she can always count on my friendship and support,” he adds. What do you think of this drastic decision?