Kering is announcing that discussions are underway with Mr. Christopher Kane about the conditions in which the British designer could take back full control of the eponymous brand.
Christopher Kane and Kering wish to continue to collaborate with the aim of achieving a gradual and harmonious transition.
As an accounting consequence of the talks underway, the Group will apply IFRS 5, Non-current Assets Held for Sale and Discontinued Operations to this asset in its half-yearly accounts to June 30, 2018, which will be published July 26. The brand is currently consolidated according to the full consolidation method.
In 2013, Kering had acquired 51% of the brand created by Christopher Kane in 2006.
Christopher Kane, the label, launched in 2006 and began almost immediately upon Kane’s graduation from Central Saint Martins, capitalizing on the success of his award winning MA collection that had already garnered much media attention.