The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Kering, the luxury conglomerate formerly named PPR, has taken a minority stake in Altuzarra, the label founded in 2008 by French-American designer Joseph Altuzarra. The deal was finalised yesterday, only days before the label is scheduled to show its Spring 2014 collection at New York Fashion Week, and announced by Altuzarra and Kering this morning.
“I am delighted to enter into this relationship with Kering, a group renowned for its excellence in luxury and innovation with an incredible track record for nurturing some of the greatest talents and brands in the fashion industry," said Joseph Altuzarra, in a statement. "This partnership will allow us to take the Altuzarra brand to the next stage of its development in accordance with my creative vision. I could not be happier or more proud."
The exact size of the stake was not disclosed, though "the company will remain independent and controlled by Joseph Altuzarra and his family," Alexis Babeau, managing director, Kering Luxury division, told WWD. "While not formally integrated in Kering's luxury division, Altuzarra will have access to Kering's breadth of experience and expertise when relevant."
The deal comes less than a year after Kering took a 51 percent stake in London-based label Christopher Kane.
Read more about Joseph Altuzarra:
[ Turning Point | How Joseph Altuzarra Found His Signature Silhouette ]
Join us for our next #BoFLIVE on Thursday, February 16 at 15:00 GMT / 10:00 EST, based on our latest case Study How to Build a Profitable DTC Brand. BoF’s deputy editor Brian Baskin along with DTC correspondent Malique Morris and chief marketing officer of UK-based beauty brand Trinny London, Shira Feuer explore blueprints for growing a profitable brand.
The 10 themes in The State of Fashion 2023, the authoritative annual report from The Business of Fashion and McKinsey & Company, highlight how businesses can deploy realistic yet bold strategies to drive growth, even amid challenging times.
The women’s rights activist and Nobel Peace Prize winner spoke with BoF’s Imran Amed about education, growing up as an activist and the evolution of her own activism at BoF VOICES 2022.
BoF’s Imran Amed and McKinsey’s Achim Berg unpack what opportunities and challenges businesses should be on the lookout for in 2023.