The French group Kering bought a 30% stake in Valentino at a price of more than 5,000 million euros with the right to acquire the entire company in five years. Kering Chairman François-Henri Pinault called the deal the first step in a partnership with Qatari investment fund Mayhoola. This is written by the publication Business of Fashion.
“We are honoured that Mayhoola has chosen us to develop Valentino, as well as to work on other projects,” said François-Henri Pinault, Chairman of Kering’s Board of Directors.
Recall that last month Kering acquired the perfume house Creed.
