Kering finalises the acquisition of a 30% stake in Valentino
The French-based luxury group announced that it has completed the acquisition of a 30% shareholding in Valentino, following approval from the antitrust authorities
Kering has announced that it has finalised the acquisition of a 30% stake in Valentino, according to the terms announced on the 27th of July. The luxury group paid 1.7 billion euros to Valentino’s owner, the investment equity firm Mayhoola, with an option to buy 100% of the Italian brand’s capital until 2028.
For the time being, Mayhoola remains the majority shareholder with 70% of the share capital and will continue to implement the brand’s strategy, under the leadership of CEO Jacopo Venturini.
“I am impressed with the evolution of Valentino under Mayhoola ownership and very delighted that Mayhoola has chosen Kering as its partner for the development of Valentino, a unique Italian house that is synonymous with beauty and elegance”, said François-Henri Pinault, Chairman and CEO of Kering in July. “I am very pleased with this first step in our collaboration with Mayhoola to develop Valentino and pursue the very strong strategic journey of brand elevation that Jacopo Venturini will continue to lead”, he added.
Image Credits: valentino.com
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