Monday 16 October 2017

Altuzarra are "delighted to enter into a relationship" with Kering.

Nicole Kidman is a huge fan of the label
Nicole Kidman is a huge fan of the label
Cate Blanchett wearing Altuzarra
Kate Upton wearing Altuzarra

Founded in 2008 by Joseph Altuzarra, the label is about to showcase its Spring/Summer 14 collection at New York Fashion Week.

Kering has gained a minority stake in the company, which Joseph sees as a positive move for its evolution.

"I am delighted to enter into this relationship with Kering, a group renowned for its excellence in luxury and innovation with an incredible track record for nurturing some of the greatest talents and brands in the fashion industry," he said in a statement.

"This partnership will allow us to take the Altuzarra brand to the next stage of its development in accordance with my creative vision. I could not be happier or more proud."

Kering, formerly named PPR, is the luxury conglomerate run by actress Salma Hayek's husband, François-Henri Pinault.

Joining forces with Kering will mean the everyday running of Joseph's business will partially be in the hands of other people.

"The company will remain independent and controlled by Joseph Altuzarra and his family.

"While not formally integrated in Kering's luxury division, Altuzarra will have access to Kering's breadth of experience and expertise when relevant," Kering's luxury division managing director Alexis Babeau told WWD.

Kering took a 51 percent stake in London-based design house Christopher Kane in January.

The company, founded in 1963, has a worldwide brand portfolio including luxury, sport and lifestyle divisions and retail brands.

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