Altuzarra Is Kering's New Star

• 07 September 2013
• Ella Alexander

ALTUZARRA has sold a minority stake to luxury conglomerate Kering. The American label, founded by Joseph Altuzarra, still remains independent and the designer's mother will continue to act as company chairman.
"We are delighted to invest in Altuzarra to accompany the development of this promising fashion house," said Alexis Babeau, managing director of Kering's luxury division. "Joseph is a truly talented designer, and he has already gained great recognition in just a few years. By endorsing a young French-American designer to help accelerate the development of his brand, Kering fulfils its mission to empower new creative talent. Kering takes a minority stake in the Altuzarra brand, which means that 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."
The exact stake percentage has not been disclosed, but the deal will enable the brand to launch its debut accessories line and also to develop its infrastructure. As well as offering financial support, Kering will also provide its expertise and years of experience in expanding some of fashion's biggest names - including Stella McCartney, Alexander McQueen and, most recently, Christopher Kane, in which the company bought a majority stake earlier this year.
"What I really loved about Kering was how they invested and helped brands from the ground up," said Altuzarra. "Alexander McQueen and Stella McCartney, they were tiny brands when Kering came in and I very much admire both of those brands. I think there's cohesiveness in their universe and a very idiosyncratic way of building their own worlds, which I really respect and admire. That is the kind of brand we would want to be down the line."
Half French, half American, Altuzarra launched his eponymous label in 2008, after working at Proenza Schouler and Givenchy under Riccardo Tisci. His work is defined by its seductive, feminine aesthetic and fans include Carine Roitfeld, Kate Bosworth and Angelina Jolie. He will show his spring/summer 2014 show at New York Fashion Week tomorrow.