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GROWTH APPETITE: Christopher Kane could well be launching a trend within new parent company PPR. Speaking during a conference call following the announcement that PPR has taken a 51 percent stake in the Scottish designer’s brand, Alexis Babeau, managing director of PPR’s luxury division, said further acquisitions could be on the cards.
“In luxury, we are looking for small to midsized brands with a strong identity, a strong expression, with a strong growth potential and with the ability for PPR to add value and to speed up the growth. We are looking for brands which are not going to overlap with our existing portfolio, and we think that with the Christopher Kane brand today, there is a perfect fit with our existing portfolio,” he said, adding: “We cannot rule out further acquisitions, but there is nothing in the next few days, to be clear, or in the foreseeable future.”
Babeau emphasized that PPR’s priority is to grow its existing brands, which range from Gucci and Balenciaga to Alexander McQueen and Stella McCartney. “External growth is a very nice plus,” he said.