The recent news that Stella McCartney has bought back the 50% holding in her fashion business from global luxury goods company Kering will enable the company to much more easily continue with its preference for bucking conventional wisdom.
Such actions help differentiate businesses and set them apart from the competition. Being able to take an individual stance – or a flyer on a particular idea – is much more difficult when part of a bigger business where any moves have to fit in with the group’s broad thinking and with the position of the other brands in the portfolio.
The decision by the Stella McCartney brand to not use leather for any of its accessories undoubtedly did not sit ideally with the thinking of its large third-party shareholders. She has also linked up with charity ‘Parley for the Oceans’ that involves accessories made from recycled plastic from the ocean.
It is the ability to make independent decisions that Paul Smith believes is the key element that has enabled his eponymous business to retain its unique positioning in the marketplace. The reality is that for Smith there is nothing that ultimately gets in the way of his creativity. This will absolutely have played a key part in the brand’s longevity and ongoing ability to stand out from the crowd.
Read the full article from the Retail Insider here.