The Mall, created in 2001, operates two luxury outlet destinations in Italy, one in Leccio, nearby Florence, and the other in Sanremo, on the Italian riviera.
For Kering, the divestment of this non-core asset will generate net proceeds of approximately 350 million euros.
Simon, a world-leading operator of shopping, dining and entertainment assets worldwide, is ideally positioned to successfully ensure the continuous operation of The Mall.
Kering’s brands will maintain a presence in these two very high-end shopping villages, the strategy implemented by Kering aiming at gradually concentrating its outlet distribution to a limited number of exclusive venues.
