Jones Day and Withers act as PPR partners up with British designer Christopher Kane
Jones Day and Withers have won leading roles on the 51% acquisition of British designer label Christopher Kane by French luxury goods group PPR. The transaction, for an undisclosed sum, sees PPR – the parent company of Gucci and Yves Saint Laurent – enter into a partnership with Kane (pictured) to grow the brand.
January 24, 2013 at 07:03 PM
2 minute read
Jones Day and Withers have won leading roles on the 51% acquisition of British designer label Christopher Kane by French luxury goods group PPR.
The transaction, for an undisclosed sum, sees PPR – the parent company of Gucci and Yves Saint Laurent – enter into a partnership with Kane (pictured) to grow the brand.
The French parent company, which also has stakes in fashion brands Alexander McQueen and Stella McCartney, turned to Jones Day's City arm for advice.
City M&A and private equity partner Leon Ferera, alongside tax partner Blaise Marin-Curtoud, led the firm's team, marking its first UK mandate for PPR.
Withers represented Kane and his sister Tammy on the deal, with a team headed up by luxury brands specialist Hugh Devlin, supported by corporate finance partner Ben Simpson.
The firm has held the relationship with the duo since the brand's second collection in 2007. Under the terms of the deal, Kane – who founded the brand in 2006 – will stay as the creative director, while Tammy will remain chief executive.
Devlin said: "The transaction was very smooth. PPR has a track record for making this type of investment, so had a clear idea of what it wanted to achieve.
"We'll be seeing similar deals in 2013. London has a lot of creative talent who have established businesses of some value through their own efforts, without outside funding."
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