Christopher Kane bought by founders in pre-pack deal

Christopher Kane and his sister Tammy Kane have bought back the designer’s eponymous high-end fashion label and its lower-priced More Joy brand in a pre-pack deal that sees them now owning the assets and intellectual property.

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Administrator FTS Recovery said it had secured an immediate sale “to the original brand founders”.

It added that: “The sale of the assets has managed to ensure repayment in full of the secured creditor and we anticipate that a distribution will also be made available to the preferential creditors.”

The company filed a notice to appoint administrators in June becoming one of a number of small British designer labels to run into trouble. Coming at the same time as Julien Macdonald went into liquidation, the Christopher Kane development is rare good news for a designer sector that’s one of Britain’s most creative but also one of its most under-funded. 

FTS Recovery is also responsible for selling Julien Macdonald’s stock.

Christopher Kane had been racing to refinance or find a buyer with no success pre-administration. And it now seems that it will continue as an independent label.

It’s been a roll coaster ride for the Kane siblings in the past decade. The business had once been part of Kering, which bought a 51% stake in 2013, but the Kanes bought back control in 2018 as Kering focused more heavily on its star labels. The pandemic was a tough time for a brand whose output is all about occasion dressing.

Central Saint Martins-trained Kane, who remains based in East London, has been a high-profile name at London fashion week and has built up a celebrity following. The brand has also collaborated with a number of labels and companies, including Topshop, Disney and Versace.