Kering takes a 30% stake in Valentino

By Agence France-Presse

Jul 29, 2023 12:16 am

PARIS: French luxury group Kering announced on Thursday it will take a stake in Italian fashion house Valentino as it released results that underperformed rivals, thanks to stagnating sales at Gucci.

The deal to acquire a 30-percent stake in Valentino from its owner Mayhoola opens the possibility of the Qatari investment fund becoming a shareholder in Kering even as the luxury group spoke about the need to invest in its fashion houses.

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