Kering and Ardian have entered into a binding investment agreement concerning three prestigious real estate properties in Paris. The portfolio includes Hôtel de Nocé at 26, place Vendôme, and two buildings on avenue Montaigne, located at 35-37 and 56. Kering will contribute these assets to a newly formed joint venture, with Ardian acquiring a 60% stake while Kering retains 40%. This transaction is expected to generate net proceeds of €837 million for Kering.

This deal aligns with Kering's selective real estate strategy, which focuses on securing prime retail locations in iconic luxury districts. For Ardian, this partnership represents a significant opportunity to expand its real estate presence in Paris, particularly in exclusive markets. The transaction is anticipated to close in the first quarter of 2025, subject to standard real estate transaction conditions.

Jean-Marc Duplaix, Kering's Deputy CEO, expressed satisfaction with the partnership, highlighting the long-term security of prominent retail locations while maintaining financial flexibility. Stéphanie Bensimon from Ardian emphasized the innovative nature of the joint venture, which aims to enhance real estate strategies for luxury brands and create growth opportunities.

Kering is a global luxury group managing renowned brands such as Gucci, Saint Laurent, and Bottega Veneta, focusing on creativity and sustainability. In 2023, Kering reported revenues of €19.6 billion and employed 49,000 people.

Ardian, a leading private investment house, manages $176 billion in assets for over 1,720 clients worldwide. The firm offers diverse investment opportunities across various sectors, including Private Equity and Real Assets. Ardian emphasizes responsible investment and aims to create lasting companies while maintaining high ethical standards.