The two parties have jointly announced that they have "entered into an agreement" on the sale of 50% of Kering's stake in the Stella McCartney brand. The 46-year-old designer therefore becomes "the sole owner of her brand" which she launched in 2001 as part of a partnership with the Italian company Gucci.
“It is the right moment to acquire the full control of the company bearing my name. This opportunity represents a crucial patrimonial decision for me... I look forward to the next chapter of my life and what this brand and our team can achieve in the future.” - Stella McCartney
The two sides will continue to work together to ensure a smooth and gradual transition and maintain the momentum of Stella McCartney's eponymous label. The British designer will also remain a member of the Kering Foundation Board of Trustees to fight violence against women.
© Photo credit: Patrick Kovarik. AFP