French luxury fashion firm in talks to end partnership with Stella McCartney

POP scion Stella McCartney looks set to take back control of her luxury fashion label.

Joint venture partner Kering, the French luxury group, is reportedly considering selling her its 50pc stake as it streamlines its group.

The pair have run the label, known for its sleek designs and commitment not to use fur or leather, since 2001 as a 50-50 partnership.

Stella McCartney’s UK arm sold £41m of goods in the UK in 2016 with a profit of £5.6m. McCartney, daughter of Beatles singer Sir Paul, pocketed a dividend of £5.1m last year. Kering is said to be planning to focus on its luxury brands such as Gucci, Saint Laurent and Balenciaga.

Business of Fashion website, which revealed the talks, said a split had been considered before, but talks were now more serious.

Kering does not break out earnings but Stella McCartney would be a much smaller contributor to sales than labels like Gucci, Saint Laurent and Bottega Veneta.

McCartney’s clothing range includes an £835 handbag lined with recycled plastic bottles, after she pledged to reuse rubbish that had been dumped in the ocean. Her collections are available in 48 stores around the world, with celebrity fans including Hollywood actresses Cameron Diaz and Julianne Moore.

A Kering spokesman said: ‘There are regular discussions about the future of the partnership. Any significant change to the current relationship would naturally be made public at the appropriate time.’