Stella McCartney is about to make a huge power move in 2018. The beloved British designer is on a mission to become one of the rare female designers that have a full control of their brand. In 2001, one of the leading fashion conglomerates Kering co-founded McCartney’s namesake brand. After 17 years of split ownership, Stella is ready to continue on her own. The designer will buy out Kering’s part and run her brand solo from now on.
“It is the right moment to acquire the full control of the company bearing my name…. I look forward to the next chapter of my life and what this brand and our team can achieve in the future,” Stella McCartney said in a statement.
The surprising move is revolutionary in many ways. First of all, there almost isn’t a designer who managed to buy back his/her brand from the big fashion conglomerates such as LVMH and Kering. Stella McCartney’s massive success and the ability to take full control of her brand is a huge statement for all women. There is a lack of female designers in the fashion industry. Moreover, women get the position of creative directors of huge fashion houses much less than men do. The climate for female designers is slowly changing in the last few years. And Stella McCartney is one of those leaders for positive change.
The British designer is able to buy back her brand thanks to a special clause in her contract with Kering. Her uncle and lawyer John Eastman helped her at the time she was launching her brand with a piece of smart advice. Stella McCartney managed to make a deal for an even 50-50 ownership with Kering with the option to repurchase her brand no later than March 31, 2018. The fact that she was able to avoid giving the conglomerate the usual 51 percent is very impressive.
McCartney had many advantages throughout her life and career but that doesn’t discredit her success in any way. She attended Central Saint Martins school and is a daughter of the rich and famous Beatles member, Paul McCartney. Her father helped her at the very beginning of her career, but Stella’s innovative work is what rose her brand to fame and success. Sustainability is in the DNA of the luxury fashion house, Stella McCartney. As a lifelong vegetarian, the designer found eco-friendly and harm-free ways to produce luxury goods. She has launched the “skin-free-skin” and “fur-free-fur” as high-quality alternatives to real leather and fur.
By having a full control of her brand, Stella McCartney can focus even more on bringing sustainability and vegetarian-friendly designs on the luxury fashion market. With her decision to buy back the ownership of her brand, Stella might inspire many female designers in a similar position to follow her example.