Kering, Mayhoola Announce Kering is Significant Shareholder of Valentino

Kering and Mayhoola have entered an agreement for the acquisition by Kering of a 30% shareholding in Valentino, for a cash consideration of €1.7 billion ($1.9 billion). 

The agreement comprises an option for Kering to acquire 100% of the share capital of Valentino no later than 2028. The transaction is part of a broader strategic partnership between Kering and Mayhoola, which could lead to Mayhoola becoming a shareholder in Kering. 

The strategic partnership will further support the brand elevation strategy implemented by Jacopo Venturini, chief executive officer, Valentino.  

Kering will become a significant shareholder with board representation. Mayhoola will remain the majority shareholder with 70% of the share capital and will continue to execute on the brand elevation strategy. As part of the broader partnership, Kering and Mayhoola will explore potential joint opportunities. The transaction is expected to close by the end of this year, subject to clearance by the relevant competition authorities.  

“I am impressed with the evolution of Valentino under Mayhoola ownership and very delighted that Mayhoola has chosen Kering as its partner for the development of Valentino, a unique Italian house that is synonymous with beauty and elegance,” says François-Henri Pinault, chairman, chief executive officer, Kering. “I am very pleased of this first step in our collaboration with Mayhoola to develop Valentino and pursue the very strong strategic journey of brand elevation that Jacopo Venturini will continue to lead.”  

“Valentino is one of the ultimate Italian luxury authorities and we are very happy to welcome Kering as a strategic partner for the future development of the maison de couture,” says Venturini. “Under our stewardship, Valentino has strengthened its foundations as a highly desirable luxury brand and we will keep reinforcing the brand in the next chapter with Kering. We look forward to our partnership with Kering in Valentino and also in other potential opportunities to explore investments together.”