Paris -- French luxury group PPR’s Tuesday announcement that it has acquired 51% of British fashion brand Christopher Kane means that the luxury designer will soon have branded boutiques. The first is slated to open in London as early as 2014.
According to a report by Reuters, the deal is part of PPR's strategy to add to its luxury portfolio with small brands that have growth potential.
"We think it can become a sizeable business," Alexis Babeau, managing director of PPR's luxury division, told Reuters on Tuesday.
PPR also owns French fashion brands Balenciaga and Yves Saint Laurent as well as Italian labels Bottega Veneta and Gucci.
Babeau said that the London opening will be followed by a planned network of shops.