Lack of leather means Stella McCartney is yesterday’s brand
31/01/2018
The Financial Times has quoted the statement, which stops short of confirming the change in ownership, but confirms there are “regular discussions about the future of the partnership”. They have said they will make public any “significant change” in their relationship at the appropriate time.
Some analysts in Paris have suggested that the Stella McCartney brand, which in 2016 contributed around 0.3% of Kering’s €12.4 billion in total revenue, may be too small for the group now. However, another commentator has said leather could be another reason why Kering is considering selling its share.
The head of luxury goods at financial services firm Mainfirst, John Guy, has told the Financial Times that the difficulty in “leveraging Stella McCartney’s heritage” in a high-earning sector such as leathergoods is a factor for the parent group.
Ms McCartney uses no leather in her designs and has long been a vocal opponent of the leather industry. This has never appeared coherent with Kering’s ownership of prominent luxury leathergoods brands such as Bottega Veneta, Gucci, Yves Saint-Laurent and Balenciaga.
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