PARIS — Hussein Chalayan is back in control of his signature brand.
This story first appeared in the January 11, 2010 issue of WWD. Subscribe Today.
German activewear giant Puma AG, controlled by PPR SA, said Friday it sold its majority stake in Hussein Chalayan LLP, less than two years after acquiring the label.
The Cyprus-born, London-based designer, best known for his avant-garde approach to fashion, repurchased the stake he sold to the Herzogenaurach, Germany-based activewear firm in February 2008.
“Hussein Chalayan exercised his right to regain control of Hussein Chalayan LLP,” said a Puma spokesman, adding Chalayan wished to “manage his business more independently from Puma.”
Financial terms of the deals were not disclosed.
Puma confirmed the designer would remain at the helm of Puma’s creative direction.
According to the Puma spokesman, Chalayan’s influence is evident in Puma’s upcoming sports lifestyle collections, including an “Urban Mobility” line, to be unveiled in the summer, and a premium fitness range, which will hit stores in the fall.
Chalayan could not be reached for comment.