| Parent company says McQueen's fashion label to continue despite death of the designer |
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18/02/2010 15:25 (724 Day 09:08 minutes ago) | |||||
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The FINANCIAL -- The parent company PPR SA plans to continue the Alexander McQueen fashion label despite the death of the designer.
Robert Polet, chief of the Gucci Group subsidiary, said the collection McQueen was working on before his death will be shown at Paris fashion week next month, AP reports. A week after the designer's death, found hanged in his wardrobe, PPR CEO Francois-Henri Pinault and Polet paid homage to McQueen. Pinault called him a genius, a poet and a friend. The designer rose to fame in the 1990s, and was known for his daring and edgy style and skillful tailoring. He is credited with helping to revive the once-moribund British fashion industry.
McQueen's label belongs to PPR's Gucci Group subsidiary, which comprises luxury fashion and leather brands, according to the same source. Robert Polet, who heads the group, said he spoke with McQueen a few weeks ago when the two men decided that "we have transitioned from being the name of a designer to putting in place the building blocks of a brand." "That means that will be my legacy," McQueen had said, according to Polet. "That's something I will always leave behind." There had been fears for the future of McQueen's label which had struggled to make a profit despite his reputation for daring and skillful tailoring, according to Telegraph. Analysis of the most recent accounts of McQueen’s British companies show that their current liabilities totalled more than £32 million.
Founded in 2001, the brand did not break even until 2007 and made a relatively small profit in 2008, before the World Bank ing crisis which affected many high-end fashion companies, the same source reports. Sales of his clothes and accessories are reported to have surged in the past week. Famous clients included Lady Gaga, who paid tribute to him at this week's Brit Awards, and Cameron Diaz, the actress.
The British fashion designer, born Lee Alexander McQueen, was found dead at his London home on Feb. 11. The 40-year-old was killed by asphyxia caused by hanging, an inquest into his death heard yesterday, Bloomberg informs.
McQueen was slated to unveil his fall 2010 women’s ready- to-wear collection on March 9 in Paris, according to the same source. PPR’s Gucci Group NV bought a 51 percent stake in the Alexander McQueen fashion house in December 2000.
Herald Sun informs that McQueen's companies employed 180 people at various locations around the world including its London headquarters and 11 boutiques from New York to Milan.
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