Kering: KERING AND MAYHOOLA ANNOUNCE THAT KERING BECOMES A SIGNIFICANT SHAREHOLDER OF VALENTINO AS PART OF A BROADER STRATEGIC PARTNERSHIP
2023年7月28日 - 12:47AM
Kering: KERING AND MAYHOOLA ANNOUNCE THAT KERING BECOMES A
SIGNIFICANT SHAREHOLDER OF VALENTINO AS PART OF A BROADER STRATEGIC
PARTNERSHIP
Press Release - Kering becomes a shareholder of Valentino 27 07
2023
PRESS RELEASE |
July 27, 2023 |
KERING
AND MAYHOOLA ANNOUNCE
THAT KERING BECOMES
A SIGNIFICANT SHAREHOLDER OF
VALENTINOAS PART OF A BROADER
STRATEGIC PARTNERSHIP
Kering and Mayhoola enter into a binding
agreement for the acquisition by Kering of a 30% shareholding in
Valentino, for a cash consideration of €1.7 billion.
The agreement comprises an option for Kering to
acquire 100% of the share capital of Valentino no later than 2028.
The transaction is part of a broader strategic partnership between
Kering and Mayhoola, which could lead to Mayhoola becoming a
shareholder in Kering.
Founded in Rome in 1960 by Valentino Garavani,
Valentino is one of the most internationally recognized Italian
luxury houses. A Maison de Couture with a strong heritage, a
high-end luxury positioning rooted in Haute Couture and a portfolio
of iconic creations, Valentino has developed an attractive
ready-to-wear, leather goods and accessories offering that appeals
to a very loyal customer base and celebrities around the world.
Today, Valentino has 211 directly operated stores in more than 25
countries and has recorded revenues of €1.4 billion and recurring
EBITDA of €350 million in 2022.
The strategic partnership will further support
the brand elevation strategy implemented by Valentino CEO Jacopo
Venturini under the ownership of Mayhoola, which turned it into one
of the most admired luxury houses in the world.
Kering will become a significant shareholder
with Board representation. Mayhoola will remain the majority
shareholder with 70% of the share capital and will continue to
execute on the successful brand elevation strategy.
As part of the broader partnership, Kering and
Mayhoola will explore potential joint opportunities in line with
their respective development strategies.
The transaction is expected to close by end of
2023, subject to clearance by the relevant competition
authorities.
François-Henri Pinault, Chairman and CEO of
Kering, commented: “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. I
am very pleased of 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.”
Rachid Mohamed Rachid, CEO of Mayhoola and
Chairman of Valentino, highlighted: “Valentino is one of the
ultimate Italian luxury authorities and we are very happy to
welcome Kering as a strategic partner for the future development of
the Maison de Couture. Under our stewardship, Valentino has
strengthened its foundations as a highly desirable luxury brand and
we will keep reinforcing the brand in the next chapter with Kering.
We look forward to our partnership with Kering in Valentino and
also in other potential opportunities to explore investments
together.”
About Kering
A global Luxury group, Kering manages the
development of a series of renowned Houses in Fashion, Leather
Goods and Jewelry: Gucci, Saint Laurent, Bottega Veneta,
Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo,
Qeelin, Ginori 1735 as well as Kering Eyewear and Kering Beauté. By
placing creativity at the heart of its strategy, Kering enables its
Houses to set new limits in terms of their creative expression
while crafting tomorrow’s Luxury in a sustainable and responsible
way. We capture these beliefs in our signature: “Empowering
Imagination”. In 2022, Kering had over 47,000 employees and revenue
of €20.4 billion.
About Mayhoola
Mayhoola Lux S.à.r.l. (“Mayhoola”) is an
investment entity directly controlled by Qatari Mayhoola for
Investments LLC. Mayhoola’s strategy focuses on global investments
in the luxury industry with a long-term investment approach.
Current portfolio includes an impressive stable of luxury
top-of-mind fashion houses: the Italian Maison de Couture
Valentino, French luxury house Balmain and Italian Pal Zileri.
Mayhoola also owns the leading Turkish luxury department stores
Beymen.
About Valentino
Maison Valentino is synonymous with
inclusiveness, uniqueness and creativity; a leading Italian
institution in the fashion and luxury sector. The company, with its
signature DNA, is a landmark of Made in Italy on the international
scene, the most established Italian Maison de Couture with presence
in Couture, Prêt-à-porter, Bags, Shoes and Accessories collections,
and in activities with licensed partners in Valentino Eyewear and
Valentino Beauty. Jacopo Venturini, CEO from June 2020, and
Pierpaolo Piccioli, sole Creative Director from 2016 are
re-signifying the iconic codes leveraging Valentino’s unrivalled
brand heritage in the contemporary world. Maison Valentino is
present in 162 locations through a strategic distribution network
enhanced to date, which involves boutiques located in key shopping
locations around the world and around 1,000 points of sale. Founded
in 1960 by Valentino Garavani and Giancarlo Giammetti, Valentino
S.p.A. is controlled by Mayhoola for Investments LLC since
2012.
Contacts
Press |
|
|
Emilie
Gargatte |
+33 (0)1 45 64 61
20 |
emilie.gargatte@kering.com |
Marie de
Montreynaud |
+33 (0)1 45 64 62
53 |
marie.demontreynaud@kering.com |
|
|
|
Analysts/investors |
|
|
Claire
Roblet |
+33 (0)1 45 64 61
49 |
claire.roblet@kering.com |
Julien
Brosillon |
+33 (0)1 45 64 62
30 |
julien.brosillon@kering.com |
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- Press Release - Kering becomes a shareholder of Valentino 27 07
2023
Kering (BIT:KER)
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Kering (BIT:KER)
過去 株価チャート
から 9 2023 まで 9 2024