French luxury group PPR will carry on Alexander McQueen's fashion label after the British designer's death, last week.

"This would be the best tribute that we could offer to him", said Francois-Henri Pinault, President of the group.

Renowned luxury products firm, PPR has shared that it is looking to sell around 50% its brands to better cope with the current financial crisis and raise some funds. Owned and operated by French media and retail billionaire François-Henri Pinault, the company reported a substantial fall in its sales for the month of October.

The funds raised by the sale of brands will be invested by PPR in more profitable ventures, as has been confirmed by Mr. Pinault, husband of actress Salma Hayek.