Luxury conglomerate Kering has said it will appeal against a French commercial court ruling which awarded €9.3m to former Yves Saint Laurent creative director Hedi Slimane.
Slimane took the action following his departure from Saint Laurent after Kering lifted a non-compete clause that would allow him to work for a rival brand. Slimane argued that the non-compete clause, and the financial remuneration that went with it, should remain in place.
As part of the remuneration package Slimane stood to be paid €10m from April 2015 to March 2016 linked to an increase in the value of Saint Laurent shares. The court found in favour of Slimane and while Kering has not commented further on the ruling, which has been making its way through the French legal system for the past 18 months, it has confirmed that it will contest it.
Slimane was creative director at Saint Laurent (it was his decision to drop the “Yves” from the brand name) for four years until March 2016.
Last month it was revealed that rival luxury conglomerate LVMH had appointed Slimane to the role of artistic, creative and image director of Céline, indirectly replacing British designer Phoebe Philo, where he will launch both menswear and couture for the house.