Stella McCartney, a fashion brand, could come under new ownership following the revelation that Kering, a luxury giant, has entered into talks to sell its stake in the company.
The brand is designed by its namesake Stella McCartney. It runs as a joint venture between McCartney and Kering.
However, today, Kering confirmed that it had talks about ending the partnership by selling its 50 percent stake in the company after a source informed the Business of Fashion that a sale could take place in the coming months.
“Ms Stella McCartney and Kering have been operating and growing the Stella McCartney brand since 2001 as a 50/50 joint venture,” Business of Fashion were informed by a spokesperson for Kering. “As often between stakeholders there are regular discussions about the future of the partnership.”
Kering is also the owner or a part-owner of various fashion houses including Yves Saint Laurent, Alexander McQueen, and Gucci.
The luxury giant is said to be aiming for a strategy of cutting down its portfolio, during a time when the luxury industry is in the midst of a wave of acquisitions and mergers.
Some new luxury conglomerates are beginning to rival the big players Richemont, LVMH, and Kering. In 2017, Michael Kors acquired Jimmy Choo in a deal that amounted to £896m, while Coach, a US company, acquire Kate Spade for £1.85bn and replaced the name of Tapestry, its parent company.