I was struck, when reporting the PPR/Christopher Kane deal, by a comment from Hugh Devlin, a lawyer with Withers LLP who acted as a strategic advisor to Mr Kane. Specifically, Mr Devlin said, “We would anticipate that there will be other investment transactions involving London designers in the coming 12 months.” So let’s have some fun! Let’s speculate about who could be next. Read more
It doesn’t rain but it pours! Following Swatch’s purchase of Harry Winston, PPR has announced it has bought 51 per cent of hot young British brand Christopher Kane. That’s him, left, with stylist Caroline Seiber.
This marks the third British ready-to-wear brand owned by the French Group (it also has a joint venture with Stella McCartney and 51 per cent of Alexander McQueen), the first such young brand acquisition by a major luxury group since the recession, and the third in a series of PPR purchases: first Italian menswear brand Brioni, then Chinese jewellery brand Qeelin, and now Kane. It is up to something, no question. Where some see risk – buying a luxury brand at a time when consumer attitudes towards luxury itself are uncertain and China, aka the promised land, is experiencing a slowdown – they clearly see opportunity. Read more