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With Gucci Stalled, Kering Enters Deal for Valentino

Kering announced the deal, which values Valentino at over €5 billion, as investor concerns mount over Gucci’s continued underperformance. Valentino-owner Mayhoola could invest in Kering as part of a broader tie-up.
Kaia Gerber walks the runway during the Valentino Haute Couture Autumn/Winter 2023/24 show during Paris Fashion Week in July 2023.
Kaia Gerber walks the runway during the Valentino Haute Couture Autumn/Winter 2023/24 show during Paris Fashion Week in July 2023. (Getty Images)
By
BoF PROFESSIONAL

Kering will acquire 30 percent of Italian couture house Valentino for €1.7 billion — implying a valuation north of €5 billion — as part of a broader partnership with Qatari investment fund Mayhoola, the French conglomerate said on Thursday. The agreement gives Kering the option to acquire 100 percent of Valentino “no later than 2028.”

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About the author
Robert Williams
Robert Williams

Robert Williams is Luxury Editor at The Business of Fashion. He is based in Paris and drives BoF’s coverage of the dynamic luxury fashion sector.

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