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Kering Buys Building in Milan’s via Montenapoleone for $1.4 Bln 

The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. (Reuters)
The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. (Reuters)
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Kering Buys Building in Milan’s via Montenapoleone for $1.4 Bln 

The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. (Reuters)
The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. (Reuters)

French luxury group Kering said on Thursday it acquired an 18th century building in via Montenapoleone, the heart of Milan's most exclusive shopping area, for 1.3 billion euros ($1.4 billion), from Blackstone Property Partners Europe.

Kering's deal is the latest in a series of acquisitions of buildings in top fashion locations by big luxury groups.

The building, which already hosts Saint Laurent's store, is developed over five floors. It includes more than 5,000 square meters of retail space, making it one of the largest properties in via Montenapoleone, according to the statement.

"This investment is part of Kering's selective real estate strategy, aimed at securing key highly desirable locations for its houses," the group said in a statement.

Kering, which last month warned that its first-quarter sales were likely to drop by around 10%, added that it aimed to manage its real estate portfolio with the goal of retaining a stake in its prime assets alongside co-investors in dedicated vehicles, as it did for a building for its Italian label Bottega Veneta in Tokyo.

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Fashion

Naomi Osaka’s Taste for Fashion in Spotlight Again with Walk-on Outfit at French Open

26 May 2026, France, Paris: Japanese tennis player Naomi Osaka is pictured before her women's singles first round match against Germany's Laura Siegemund during the French Open tennis tournament (Roland Garros 2026) at Roland Garros Stadium. (dpa)
26 May 2026, France, Paris: Japanese tennis player Naomi Osaka is pictured before her women's singles first round match against Germany's Laura Siegemund during the French Open tennis tournament (Roland Garros 2026) at Roland Garros Stadium. (dpa)
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Naomi Osaka’s Taste for Fashion in Spotlight Again with Walk-on Outfit at French Open

26 May 2026, France, Paris: Japanese tennis player Naomi Osaka is pictured before her women's singles first round match against Germany's Laura Siegemund during the French Open tennis tournament (Roland Garros 2026) at Roland Garros Stadium. (dpa)
26 May 2026, France, Paris: Japanese tennis player Naomi Osaka is pictured before her women's singles first round match against Germany's Laura Siegemund during the French Open tennis tournament (Roland Garros 2026) at Roland Garros Stadium. (dpa)

Naomi Osaka’s taste for fashion was in the spotlight again on Tuesday at the French Open. 

The tennis star walked onto Court Suzanne-Lenglen in a ceremonial black skirt and sleeveless beaded bodice, which she removed to reveal a sequined gold playing dress for her opening match. 

Osaka said on Saturday that she enjoys fashion since “I don’t talk a lot, so that way I can talk through my clothes.” 

She added “I am a little dramatic when it comes to my fashion sense.” 

Osaka entered wearing the embellished bodice structured to recall armor, and a long pleated skirt over her playing attire for her debut in Paris this year. She then removed the over-garments before beginning to play against German opponent Laura Siegemund. 

Earlier this year at the Australian Open, Osaka walked on wearing a wide-brim hat, a veil and holding a white parasol. 

The four-time Grand Slam champion also recently wore a show-stopping outfit at the Met Gala in New York. 

Earlier on Court Philippe-Chatrier, top-ranked Aryna Sabalenka wore two necklaces with diamonds for her opening win. 

Fashion

Shein to Buy Apparel Retailer Everlane

People walk past the Everlane Soho store on May 22, 2026 in New York City. (Getty Images/AFP)
People walk past the Everlane Soho store on May 22, 2026 in New York City. (Getty Images/AFP)
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Shein to Buy Apparel Retailer Everlane

People walk past the Everlane Soho store on May 22, 2026 in New York City. (Getty Images/AFP)
People walk past the Everlane Soho store on May 22, 2026 in New York City. (Getty Images/AFP)

US apparel brand ‌Everlane said on Friday it had reached an agreement to be acquired by online retailer Shein, giving the fast-fashion company ownership of a brand known for sustainability and supply-chain transparency.

Everlane will remain independent, its CEO Alfred Chang said in a statement, adding that the brand will hold its sustainability commitments while expanding to a global reach through ‌the deal.

Shein has ‌long admired Everlane and ‌plans ⁠to use the ⁠brand to enhance its own image of just affordable fast-fashion and drive cross-selling opportunities, a source familiar with the matter told Reuters, adding that there were multiple bidders for Everlane.

Puck News first reported the deal and ⁠said it values the brand at ‌about $100 million on ‌Sunday, adding that shareholders with common stock in Everlane ‌would not receive a payout.

L Catterton, ‌the majority owner of Everlane, and Shein have yet to respond to Reuters requests for comment.

Companies such as Shein and Temu have disrupted ‌retail markets through aggressive pricing, heavy marketing and tax loopholes that initially ⁠gave ⁠them an edge over local players.

Shein plans to invest in growing Everlane and is expected to keep its physical stores open for now, according to the source, even though brick-and-mortar retail is not central to its business model.

At the same time, the company's faster production cycles and ability to quickly bring new products to market could support Everlane's operations.

Fashion

Deal That Could Have Put Clinique, Charlotte Tilbury and Jean Paul Gaultier Under One Roof Is Off

A Charlotte Tilbury beauty counter is seen at the John Lewis retail store on Oxford Street in London, Britain, October 24, 2024. (Reuters)
A Charlotte Tilbury beauty counter is seen at the John Lewis retail store on Oxford Street in London, Britain, October 24, 2024. (Reuters)
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Deal That Could Have Put Clinique, Charlotte Tilbury and Jean Paul Gaultier Under One Roof Is Off

A Charlotte Tilbury beauty counter is seen at the John Lewis retail store on Oxford Street in London, Britain, October 24, 2024. (Reuters)
A Charlotte Tilbury beauty counter is seen at the John Lewis retail store on Oxford Street in London, Britain, October 24, 2024. (Reuters)

Estee Lauder and perfume maker Puig have ended merger talks that would have potentially put brands like MAC, Clinique, Charlotte Tilbury and Jean Paul Gaultier under one roof.

Estee Lauder Cos. confirmed the discussions in March but said at the time that no agreement had been reached with the century-old Spanish company.

“We are grateful for the conversations we have had with Puig,” Estee Lauder CEO Stéphane de La Faverie said in a prepared statement late Thursday. “Today, we are reiterating our confidence in the power of our incredible brands, our talented teams, and our strength as a standalone company."

The New York-based company said in February 2025 that it could possibly cut as many as 7,000 jobs by fiscal 2026, more than 11% of its workforce. De La Faverie said at the time that Estee Lauder was transforming its operating model to be “leaner, faster, and more agile.”

Puig oversees makeup, skin care and fragrance brands like Nina Ricci, Jean Paul Gaultier and Dr. Barbara Sturm. The company went public on the Madrid Stock Exchange in early 2024.

Shares of Estee Lauder jumped more than 12% in early trading Friday.