Kering : Acquisition of an iconic building via Monte Napoleone, in Milan
April 04 2024 - 2:30AM
Kering : Acquisition of an iconic building via Monte Napoleone, in
Milan
Press release_Acquisition of an iconic building via Monte
Napoleone_04 04 24_EN
PRESS RELEASE |
April 4, 2024 |
ACQUISITION OF AN ICONIC
BUILDING VIA MONTE NAPOLEONE, IN
MILAN
Kering today announced the acquisition of the
company owning the iconic and historic Milanese building on via
Monte Napoleone 8, for a consideration of approximately €1.3
billion, from a subsidiary of Blackstone Property Partners
Europe.
Located on the most prominent corner of the
city's Quadrilatero della Moda, the 18th century building is
developed over five floors, totaling 11,800 sq. m. gross area. The
property includes more than 5,000 sq. m. of retail space, making it
one of the largest in via Monte Napoleone.
This investment is part of Kering’s selective
real estate strategy, aimed at securing key highly desirable
locations for its Houses.
Kering remains focused on
proactively managing its real estate portfolio with the
short- to medium-term objective of retaining a stake in its prime
assets alongside co-investors in dedicated vehicles.
About Kering
A global Luxury group, Kering manages the
development of a series of renowned Houses in Fashion, Leather
Goods and Jewelry: Gucci, Saint Laurent, Bottega Veneta,
Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo,
Qeelin and Ginori 1735, as well as Kering Eyewear and Kering
Beauté. By placing creativity at the heart of its strategy, Kering
enables its Houses to set new limits in terms of their creative
expression while crafting tomorrow’s Luxury in a sustainable and
responsible way. We capture these beliefs in our signature:
“Empowering Imagination”. In 2023, Kering had 49,000 employees and
revenue of €19.6 billion.
Contacts
Press |
|
|
Emilie
Gargatte |
+33 (0)1 45 64 61
20 |
emilie.gargatte@kering.com |
Marie de
Montreynaud |
+33 (0)1 45 64 62
53 |
marie.demontreynaud@kering.com |
|
|
|
Analysts/investors |
|
|
Claire
Roblet |
+33 (0)1 45 64 61
49 |
claire.roblet@kering.com |
Julien
Brosillon |
+33 (0)1 45 64 62
30 |
julien.brosillon@kering.com |
- Press release_Acquisition of an iconic building via Monte
Napoleone_04 04 24_EN
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