Luxury fashion brand Alexander McQueen, owned by the Kering group, has announced that it is considering discontinuing its secondary line, McQ. This decision follows a similar move by Valentino, who recently announced the discontinuation of its Red Valentino line. Vogue Business reported the news, which has been confirmed by the brand.
The fashion market is currently undergoing rapid changes, which has led Alexander McQueen and Kering to reevaluate the viability of McQ as a standalone brand. As a result, all business operations for McQ have been put on hold. However, the company has reassured its employees that it will support them throughout this process until a final decision is made.
McQ was launched in 2006 as a way to offer a more casual and denim-focused line to attract a wider customer base for Alexander McQueen. Creative director Sarah Burton has overseen the development of McQ since 2010. Initially, the line was licensed to Italian manufacturer Sinv, but production and distribution were brought in-house in 2010. In the past two years, the styling of McQ has been handled by a creative collective.
In 2012, McQ held its first fashion show and opened its own store in London, signaling a move towards a more upscale and expansive product range. However, despite initial expectations, McQ did not achieve the desired results, while Alexander McQueen has experienced significant success and growth. It has become one of the leading brands within the Kering group, alongside the likes of Gucci, Saint Laurent, Bottega Veneta, and Balenciaga. Analysts estimate the brand’s turnover to be between 700 and 800 million euros.
The appointment of Gianfilippo Testa as Alexander McQueen’s new CEO indicates the brand’s commitment to future growth. Under his leadership, the brand is planning to open a new flagship store in Paris next year. This store, located near its current store at 275, rue Saint Honoré, is set to become the brand’s largest, solidifying its presence in the luxury fashion market.
In conclusion, Alexander McQueen’s decision to suspend the operations of its secondary line, McQ, showcases the brand’s ability to adapt to the evolving fashion market. Although the future of McQ remains uncertain, Alexander McQueen will continue to thrive as a powerhouse in the luxury fashion industry.
Useful links:
– Vogue Business article on Alexander McQueen considering discontinuation of McQ
– Alexander McQueen fashion shows on Vogue.com
