Christopher Kane and sister come to the rescue of eponymous label

Scottish fashion designer Christopher Kane, along with his sister Tammy Kane, has purchased the assets and intellectual property of the eponymous label – capping the sale process that was announced last month.

Administrator FTS Recovery said in a statement Friday that the siblings acquired the Christopher Kane and More Joy fashion labels.

The administrator said  that it was able to secure a sale immediately "to the original brand founders of all trade names, trademarks and other intellectual property."

Marco Piacquadio, Director at FTS Recovery, told WWD: "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's name has now been changed from Christopher Kane Ltd. to K Realisations 2023.

Last month, it was announced that the company was on the brink of collapse after it filed a notice to appoint administrators.

The retail brand, which was founded by Christopher Kane and his sister Tammy Kane in 2006, said it had filed the notice in a last-minute bid to help it secure a rescue plan which could have involved a refinancing or new buyer.

After it was established Kane’s label grew rapidly in popularity, with famous fans such as Anna Wintour and Alexa Chung. Luxury giant Kering bought a 51% majority stake in the business in 2013, however, the French group sold the brand back to its founders in 2018.

Julien Macdonald's fashion label, founded in 1997, was also recently forced into liquidation during unstable economic times.

Yesterday, liquidators FTS Recovery also confirmed that they are selling Birtish designer Julien Macdonald's stock and other assets in order to seek repayment for creditors. Alan Coleman and Marco Piacquadio have been appointed joint liquidators to the fashion brand.