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With Gucci Stalled, Kering Enters Deal for Valentino

Kering announced the deal, which values Valentino at over €5 billion, as investor concerns mount over Gucci’s continued underperformance. Valentino-owner Mayhoola could invest in Kering as part of a broader tie-up.
Kaia Gerber walks the runway during the Valentino Haute Couture Autumn/Winter 2023/24 show during Paris Fashion Week in July 2023.
Kaia Gerber walks the runway during the Valentino Haute Couture Autumn/Winter 2023/24 show during Paris Fashion Week in July 2023. (Getty Images)

Kering will acquire 30 percent of Italian couture house Valentino for €1.7 billion — implying a valuation north of €5 billion — as part of a broader partnership with Qatari investment fund Mayhoola, the French conglomerate said on Thursday. The agreement gives Kering the option to acquire 100 percent of Valentino “no later than 2028.”

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