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The French luxury conglomerate is in formal talks to sell its 50% share of the Stella McCartney brand, with the public announcement imminent according to UK based media Business of Fashion (BOF).
A source with first-hand knowledge told BOF Stella McCartney’s Human Resources is currently preparing a booklet that aims to answer outstanding questions and employee concerns. Stella is said to be working with strategy consulting firm Javelin, part of global advisory firm Accenture for its reorganisation during the transition period, and preparing its future as an independent fashion brand. The information has not been officially confirmed by either party.
The reasons for the separation and why it is happening now have not been disclosed. Some fashion analysts say it could be part of the French conglomerate’ streamlining strategy to concentrate on blockbuster brands such as Gucci and Yves Saint Laurent, which have recorded spectacular growth in 2017, +44.6% and +25.3% respectively. Read more here.
In January 2018, Kering also officially announced that it is spinning off sportswear brand Puma. As reported by ILM, the Group said it aims to continue to grow and develop its powerful ensemble of houses in couture, leather goods, jewellery and watches, leveraging on its high cash-flow generation and strong financial position.
Stella McCartney is a well-known opponent of leather which is a strong part of the product ranges in other members of the Kering Group.
Source: Business of Fashion