Owner of luxury bands Gucci, Saint Laurent—Kering SA reached a deal to sell a 60% stake in three prestigious Paris properties to French private equity firm Ardian SAS for €837 million (~$862 million).

Kering SA agreed to sell a majority stake in three luxury Paris properties to French private equity firm Ardian SAS, a deal that will net the struggling owner of the Gucci fashion label €837 million ($861 million).

Kering SA will sell a majority stake in three Paris properties to French private equity firm Ardian, a deal that will net the struggling owner of the Gucci fashion label €837 million ($861 million).

The French group said it will receive net proceeds of €837 million. Kering will retain 40% of the ownership in the prime real-estate portfolio.

The deal valued at 837 million euros will give Kering a cash infusion as it seeks to shore up its balance sheet.

Kering sells 60% of Paris properties amid Guccis poor performance Kering divests significant stakes in Paris real estate as luxury sector faces challenges

Press release_Kering and Ardian sign an agreement_15 01 25 PRESS RELEASE January 15, 2025 KERING AND ARDIAN SIGN AN INVESTMENT AGREEMENT REGARDING PRIME REAL ESTATE ASSETS IN PARIS Kering and Ardian today announced the signature of a binding investment agreement pertaining to three highly prestigious real estate properties in Paris.

Luxury group Kering has signed an agreement with investment firm Ardian for the sale of 837 million euros worth of real estate.