Gucci bought a majority stake in McQueen's fashion label in 2001
French luxury group PPR has said it 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.
Mr McQueen hanged himself in his London flat on 11 February. He was said to have been distraught over the recent death of his mother.
The label has 11 boutiques and employs 180 people worldwide.
The Alexander McQueen label is part of the Gucci group, owned by PPR.
Mr Pinault made the announcement at a press conference after revealing that PPR profits had risen by 6.9% in 2009, partly due to the sale of its African distribution business CFAO.
Net profit was 984.6m euros ($1.3bn; £857m) for 2009, compared with 921.1m euros in 2008.
"PPR achieved a noteworthy financial performance in 2009, in view of the severe deterioration of the world economic environment in which we operated.," said Mr Pinault in a statement.
In a statement, the Gucci Group said it was providing "logistical, financial and human support" to the Alexander McQueen team and was working hard to continue the brand's growth.
It said that it was committed to presenting the designer's collection at Paris fashion week at the beginning of March .
"I believe strongly in the Alexander McQueen brand and its future," said Robert Polet, president and chief executive of Gucci Group.
"Alexander McQueen will leave an important legacy that Gucci will continue to protect, grow and celebrate."
Mr McQueen rose to become the chief designer for Givenchy in 1996 before creating his own label and winning four British Designer of the Year awards.
Gucci bought a majority stake in the label in 2001.