BREAKING NEWS: Luxury Conglomerate Kering Buys 30% Of Valentino

KERING HAS PURCHASED 30% OF ITALIAN FASHION HOUSE VALENTINO, WITH THE OPTION TO BUY THE REST.

PARIS, FRANCE — French international luxury group Kering SA announced it was acquiring a 30 percent stake in Valentino S.p.A. for 1.7 billion euros, with an option to buy 100 percent of the Italian brand’s capital by 2028.

“The transaction is part of a broader strategic partnership between Kering and Mayhoola, which could lead to Mayhoola becoming a shareholder in Kering,” it said in a statement published in tandem with first-half results.

The fashion house was founded in Rome in 1960 by Valentino Garavani. The company has 211 directly operated stores in more than 25 countries and had sales of 1.4 billion euros and recurring EBITDA of 350 million euros in 2022.

Kering will become a significant shareholder with board representation and Mayhoola will remain the majority shareholder with 70 percent and will continue to execute on the brand elevation strategy.

Kering‘s other brands include Saint Laurent, Bottega Veneta, Balenciaga, Gucci, Alexander McQueen, Brioni and Pomellato.

Photos Credit: Courtesy of Valentino