عربي English Türkçe اردو فارسى
Logo
Latest News
Fashion

French Luxury Group Kering to Buy 30% Stake in Valentino for 1.7 Billion Euros Cash 

Italian fashion designer Valentino, right, standing underneath the logo of his fashion house, answers the questions of a fashion reporter prior to the presentation of his Haute Couture Spring-Summer 2008 fashion collection, on Jan. 23, 2008, in Paris. (AP)
Italian fashion designer Valentino, right, standing underneath the logo of his fashion house, answers the questions of a fashion reporter prior to the presentation of his Haute Couture Spring-Summer 2008 fashion collection, on Jan. 23, 2008, in Paris. (AP)
TT
TT

French Luxury Group Kering to Buy 30% Stake in Valentino for 1.7 Billion Euros Cash 

Italian fashion designer Valentino, right, standing underneath the logo of his fashion house, answers the questions of a fashion reporter prior to the presentation of his Haute Couture Spring-Summer 2008 fashion collection, on Jan. 23, 2008, in Paris. (AP)
Italian fashion designer Valentino, right, standing underneath the logo of his fashion house, answers the questions of a fashion reporter prior to the presentation of his Haute Couture Spring-Summer 2008 fashion collection, on Jan. 23, 2008, in Paris. (AP)

French luxury conglomerate Kering has reached a cash deal to purchase a 30% stake in Italian fashion house Valentino for 1.7 billion euros from a Qatari investment firm.

With the purchase, Kering is seeking to shore up its revenue stream as it struggles to turn around former powerhouse Gucci. Kering on Thursday reported first-half revenues of 10.1 billion euros, up 2%, as Gucci sales stagnate.

Under the deal announced Thursday, Kering has the option to buy 100% of Valentino no later than 2028. The partnership could lead to the Qatari investment firm, Mayhoola, becoming a shareholder in Kering, as well as other potential “joint opportunities,” the statement said.

Kering Chairman and CEO Francois-Henri Pinault expressed admiration for “the evolution of Valentino under Mayhoola ownership,” which Kering said turned Valentino “into one of the most admired luxury houses in the world.”

“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,” citing the role of Valentino CEO Jacopo Venturini, who “will continue to lead.”

Gucci, which accounts for nearly half of Kering revenues, is in the throes of a relaunch, with a new management team and a new creative director, Sabato De Sarno, who will unveil his first collection during Milan Fashion Week in September.

Valentino, founded by Valentino Garavani in 1960, recorded revenues of 1.4 billion euros in 2022. Pierpaolo Piccoli has been creative director at Valentino since 2008, working alongside Maria Grazia Chiuri from 2008-16.

With its corporate base in Milan and design studio in Rome, the fashion house is a mainstay of Paris fashion week with its womenswear and couture collections while recently returning menswear to Milan.

Most Viewed

 
 
Fashion

Pharrell Pursues Paris Landmark Takeovers with Louvre Show

Pharrell has been creative director at Louis Vuitton since 2023. Mark Sagliocco / GETTY IMAGES NORTH AMERICA/AFP
Pharrell has been creative director at Louis Vuitton since 2023. Mark Sagliocco / GETTY IMAGES NORTH AMERICA/AFP
TT
TT

Pharrell Pursues Paris Landmark Takeovers with Louvre Show

Pharrell has been creative director at Louis Vuitton since 2023. Mark Sagliocco / GETTY IMAGES NORTH AMERICA/AFP
Pharrell has been creative director at Louis Vuitton since 2023. Mark Sagliocco / GETTY IMAGES NORTH AMERICA/AFP

Paris Men's Fashion Week kicks off Tuesday, headlined by Pharrell Williams' highly anticipated new show for Louis Vuitton which is set to take over the Louvre in the evening.
Transforming the French capital's most famous museum continues his tradition of using major landmarks as backdrops for his clothes since he began as creative director in 2023, AFP said.
For his debut show, the LVMH-owned brand used the Pont Neuf, the oldest bridge in the capital, as a giant runway, even painting its paving stones gold.
A historic theme park, the Jardin d'Acclimatation, hosted Pharrell's show last January while in June he sent models down a lawn catwalk built on the rooftop of the modernist headquarters of UN agency UNESCO.
The Louvre's iconic architecture has been used several times in the past by Vuitton's Nicolas Ghesquiere, artistic director of women's collections, most recently in October.
Pharrell's fifth collection for the Autumn-Winter 2025-2026 season is expected to once again draw a star-studded crowd from the worlds of rap, cinema, and sports.
Brand ambassadors include American basketball player LeBron James, French basketball sensation Victor Wembanyama, and Olympic swimming star Leon Marchand.
South Korean star J-Hope of K-pop group BTS, currently in Paris, shared his invitation on social media: a metallic card bearing his name in a leather pouch.
After delivering an ode to multiculturalism during his last show in June, Pharrell Williams might be tempted to send a political message a day after the inauguration of Donald Trump as US president, some observers believe.
'Workwear'
The opening day of Men's Fashion Week, which runs until Sunday, will also feature an afternoon show by Japanese brand Auralee, making its third Paris appearance.
Founded in 2015 by Ryota Iwai, the label stands out for its simple, functional design.
In terms of looks, experts say the aesthetic dominance of streetwear is fading, with designers increasingly focused on "casual tailoring", emphasizing suits and structured pieces with a relaxed twist.
A major trend from the spring-summer 2025 collections was dubbed "workwear", featuring trench coats, Barbour-style jackets, duffle coats and loafers.
"There’s a classic, slightly dandy but chic, elegant, and casual silhouette emerging," Alice Feillard, men’s buying director at luxury Paris emporium Galeries Lafayette, told AFP.
Brown colors have dominated for two seasons, and insiders expect them to remain a key shade at the end of the year.
A number of top labels are luring new designers or looking for fresh inspiration in the increasingly tough luxury market.
Lanvin is set to return after a two-year hiatus, presenting Peter Copping’s debut collection as the artistic director of France’s oldest couture house.
After completing his first show in September, Valentino’s new artistic director, Alessandro Michele, will return for haute couture week, which follows immediately after the menswear week.
One of the most anticipated shows will be on Sunday by in-vogue French designer Simon Porte Jacquemus, whose Jacquemus brand is making its return to the official calendar after a five-year absence.
Notably absences include Givenchy, whose new chief designer Sarah Burton has reserved her first collection for the women’s Fashion Week in March, as well as Loewe, whose artistic director Jonathan Anderson is rumored to be on the way out.
Hedi Slimane left his role as artistic director at Celine in October, John Galliano quit Maison Margiela in December, and Chanel unveiled their new creative director, Matthieu Blazy, only a month ago.