© Reuters. KERING IS DISENGAGED FROM STELLA MCCARTNEY LTD
PARIS (Reuters) – Kering (PA:PRTP) said on Wednesday its withdrawal from Stella McCartney Ltd., the seamstress, becoming the sole owner.
The agreement provides for the assignment by Kering and the acquisition by Stella McCartney of the 50% stake to Kering in Stella McCartney Ltd, specific luxury group in a press release.
“Stella McCartney Ltd and Kering will continue to collaborate in order to ensure a transition smooth and gradual and maintain the momentum of the brand.”
The French group holds the toe Stella McCartney in a joint venture with the daughter of Paul McCartney since 2001.
(Cyril Altmeyer, édité par Dominique Rodriguez)