The portfolio comprises Hôtel de Nocé, located 26, place Vendôme, and two buildings located on avenue Montaigne, at 35-37 a Valentino-Boutique, and at 56 where currently a Jil Sander boutique resides.
Kering is contributing these assets to a newly created joint venture. Ardian, a world-leading private investment house, will hold a stake of 60% in this unique prime real estate portfolio, Kering retaining 40% of the ownership. Net proceeds for Kering will amount to 837 million euros.
This transaction is part of Kering’s selective real estate strategy, aimed at securing exceptional retail locations for its Houses for the long term in the world’s most emblematic luxury districts.
For Ardian, this long-term partnership is a rare opportunity to further establish its real estate footprint in Paris through an investment in three real estate assets located on the most prestigious high streets, offering its clients access to a very exclusive real estate market.
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, McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, Ginori 1735 as well as Kering Eyewear and Kering Beauté. In 2024, Kering had over 47,000 employees and revenue of 17.2 billion euros.
