Stella McCartney is now officially her own boss
The American designer has bought back the business from Kering
It's been rumoured for a while that a fashion break-up was coming but no-one really knew when it was going to happen. However overnight news finally broke that Stella McCartney is parting ways with luxury conglomerate Kering after a 17-year partnership.
Kering helped launch McCartney's namesake label back in 2001 and since then has owned a 50 per cent stake in the business. The latest news means that the designer has bought back that stake to become the sole owner of her business.
Reflecting on the relationship ahead of branching out on her own to forge an independent business, Stella told WWD, "I've had an incredible relationship with Kering, and first and foremost with the Pinault family, whom I consider to be great friends. I'm incredibly close to them. We had such a successful business together, an incredible partnership. We never had any hiccups."
Despite the news, Stella (who was recently confirmed to design Justin Timberlake's upcoming tour wardrobe) will remain on the board of the Kering Foundation and will also continue to work with the company in their efforts to become more sustainable, WWD reports.
We look forward to seeing what this new stage means for the brand.