PPR is very selective about who it brings into its luxury goods stable and hasn't backed a British brand since 2001.
Kane has been a fashion industry darling ever since his Central Saint Martins MA graduate collection consisting of neon bandage dresses gained plaudits in early 2006.
In addition to the prospect of his own store, Kane will be able to focus on expanding sales in Asia, as well as developing a lucrative leather goods and accessories line.
Kane, whose spring/summer 2013 collection features T-shirts printed with images of Boris Karloff as Frankenstein's monster and organza dresses decorated with black gaffer tape, is one of the most important designers at London Fashion Week.
He has a great skill for setting new trends and turns offbeat inspiration from things such as childhood pencil cases, dinosaurs and sea creatures into must-have pieces and sell-out collections.
Only time will tell whether allowing PPR to buy a majority stake will turn out well for him.
The Stella McCartney and Alexander McQueen brands flourished since being brought into the PPR stable in 2001.
However, designer Jil Sander ended up walking away from her eponymous brand in 2004 after Prada bought a majority share. She later returned as creative director.
Designers Roland Mouret and Helmut Lang also suffered problems after selling majority stakes to investors, with both leaving the companies. Mouret later bought back the rights to his brand and name.
Kane should look to McCartney for inspiration following her successful Olympic designs for TeamGB and her British Fashion Award for Designer of the Year.
Kane will need to turn his attention to shoes and handbags if he wants to become a true fashion great as brands make most of their money from accessories, rather than clothing collections.