Press Release - Kering finalizes an agreement on a Milan property_010426
| PRESS RELEASE |
| April 1, 2026 |
KERING FINALIZES AN AGREEMENT ON ITS ICONIC BUILDING VIA MONTE NAPOLEONE IN MILAN
Kering announces today the execution of a transaction agreement, effective immediately, with Al-Mirqab Group, regarding a property of Kering located at Via Monte Napoleone 8 in Milan.
The asset is situated at the most prominent corner of Milan's Quadrilatero della Moda. This iconic 18th-century building is one of the largest properties on Via Monte Napoleone and occupies a flagship position in the heart of the city's luxury district.
Kering is contributing this asset to a newly incorporated joint stock company, held at 80% by Al Mirqab Group and 20% by Kering. Kering interest in this company will be accounted for under the equity method as of today.
Kering received proceeds of €729?million at closing, while a remaining €432?million will be paid to the Group five years later.
Following the partnerships concluded last year regarding real estate assets located in Paris and New York, this investment is part of Kering selective real estate strategy, aimed at securing highly desirable key locations for its Houses while enhancing its financial flexibility.
About Kering
Kering is a global, family-led luxury group, home to people whose passion and expertise nurture creative Houses across couture and ready-to-wear, leather goods, jewelry, eyewear and beauty: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, McQueen, Brioni, Boucheron, Pomellato, Dodo, Qeelin, Ginori 1735, as well as Kering Eyewear. Inspired by their creative heritage, Kering Houses design and craft exceptional products and experiences that reflect the Group's commitment to excellence, sustainability and culture. This vision is expressed in our signature: Creativity is our Legacy. In 2025, Kering employed 44,000 people and generated revenue of €14.7 billion.
Contacts
| Press | ||
| Emilie Gargatte | +33 (0)1 45 64 61 20 | emilie.gargatte@kering.com |
| Pénélope Linage | +33 (0)6 76 09 42 10 | penelope.linage-ext@kering.com |
| Analysts/investors | ||
| Philippine de Schonen | +33 (0)6 13 45 68 39 | philippine.deschonen@kering.com |
| Victoria Gerard | +33 (0)6 79 39 85 16 | victoria.gerard@kering.com |
