Alexander McQueen Line to Continue
The Gucci Group announced on Thursday that it would continue to produce fashion collections and accessories under the Alexander McQueen label after the suicide of the avant-garde designer last week.
At its annual meeting Thursday, PPR paid tribute to the British fashion designer Alexander McQueen, who died last week.
Robert Polet, the chief executive, speaking at an annual meeting of Gucci’s parent company, PPR, said that the company would continue to finance the brand. He also said in a statement released soon afterward that a McQueen collection would be shown during Paris Fashion Week in March.
Mr. McQueen was widely reported to have completed at least part of a fall 2010 collection before his death, leading to speculation as to whether it would be shown posthumously in tribute. The designer, known for his thought-provoking and sometimes shocking collections, was found dead in his London home on Feb. 11 at age 40. An officer of the Westminster Coroner’s Court in London said during proceedings this week that the cause of death was asphyxia and hanging.
The Gucci Group’s announcement did not make clear what the company’s strategy for future designs would be, but a spokeswoman said that Mr. Polet was meeting with Mr. McQueen’s staff to formulate a plan. The fall collection will be shown to small groups of editors on March 9 and 10, but not on a runway, as are most Fashion Week collections.
Retailers that carry Mr. McQueen’s signature collection, as well as fragrances and a lower-price line called McQ, had been anxious about the future of the brand because many fashion labels have stumbled after the loss of their creators. Although Gucci does not break out sales numbers for its smaller brands, the McQueen business, according to a report in Women’s Wear Daily, was approaching annual sales of $100 million.
“I believe strongly in the Alexander McQueen brand and its future,” Mr. Polet said in the statement. “There is an outstanding team at Alexander McQueen, a team that has enormous talent and energy and a passion that Lee was extremely proud of, and so am I.” Lee was Mr. McQueen’s first name.
So much of the label’s success has been wrapped up in Mr. McQueen’s personality and singular vision, however, some analysts have questioned its viability beyond licensed products like sunglasses or fragrance.
“People can try to imitate Alexander McQueen, but what is it going to be?” asked Jeffry M. Aronsson, who runs a consulting and investment group called the Aronsson Group and who was formerly the chief executive of Donna Karan and Oscar de la Renta. “Brash behavior? You can make all of the loud statements he used to make, but it won’t be him.”
Mr. Aronsson suggested that it would be difficult for Gucci to carry on a designer collection under the McQueen label without the credibility of an actual designer, but the trend more often favors carrying on such labels.
Gucci said it wants to continue to expand the brand, which, since it was acquired, has opened stores in New York, Los Angeles and London and introduced collaborative products with Puma, Samsonite and Target, among others.
PPR reported Thursday that its 2009 net income rose 6.9 percent, to 984.6 million euros ($1.3 billion), despite a 4 percent decline in revenue, to 16.52 billion euros. The bottom line was bolstered by the initial public offering of CFAO, the company’s African automobile and pharmaceutical distribution business.
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