Christopher Kane saves himself. The Scottish fashion designer, in partnership with his sister Tammy Kane, has purchased the assets and intellectual property of the eponymous fashion brand founded in 2006. In doing so, he closed the sale process announced last month. The two also took over the affordable brand More Joy. In financial difficulties, the brand Christopher Kane had been searching in vain for a backer or buyer. As a result, external administrators, FTS Recovery, were appointed. Until the rescue by the founders themselves. Just as another small British label, Julien Macdonald, went into crisis.
The rescue
FTS Recovery stated that Christopher Kane, in partnership with his sister Tammy, took over the fashion brands Christopher Kane and More Joy. The two brothers acquired all trade names, trademarks and intellectual property. Marco Piacquadio, director of FTS Recovery, told WWD: “The sale of the assets was successful in securing full repayment of the senior creditor. We anticipate there will also be provisions for the other preferential creditors”. The company name was changed from Christopher Kane Ltd. to K Realizations 2023.
The former gem
Kering had bought 51% of the brand in 2013. Five years later, the French giant decided to sell the stake to the Kane brothers, in order to focus on billionaire fashion brands. The brand Christopher Kane, whose business is focused on formal and occasion wear, went into crisis with the pandemic. And it never recovered, until the current events. The rescue of Christopher Kane is rare, good news for the fashion industry. Which according to Fashion Network “is one of the most creative in Britain, but also one of the least funded”. Another British brand is in crisis. It is Julien Macdonald, now under the management of curators FTS Recovery.
Pictured, from christopherkane.com, the designer between two of his looks
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