In conjunction with the investment fund Mayhoola, Kering is spending &euro;1.7 billion to add Valentino to its portfolio of luxury brands.

French luxury conglomerate Kering has acquired a 30 percent stake in Valentino, as a part of a partnership with the Qatari investment firm Mayhoola, for &euro;1.7 billion, putting Valentino's overall valuation at &euro;5 billion. The agreement signed between Kering and Mayhoola includes an option to increase the share capital to 100 percent by 2028. This new strategic partnership will continue to support the brand's growth strategy led by Jacopo Venturini&mdash;Valentino's CEO&mdash;under the ownership of Mayhoola. Kering will become a significant shareholder in Valentino's capital, including a seat on the brand's board of directors.

"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," said Fran&ccedil;ois-Henri Pinault, Kering President and CEO, in a statement released Thursday, July 27. "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.&rdquo;&nbsp;
Mayhoola will remain the majority shareholder with a 70 percent stake and continue to implement the brand's current elevation strategy.
"Valentino is one of the leading authorities on Italian luxury and we are very happy to welcome Kering as a strategic partner for the future development of the Maison de Couture," said Rachid Mohamed Rachid, Chief Executive Officer of Mayhoola and Chairman of Valentino. "Under our leadership, Valentino has strengthened its roots as a highly desirable luxury brand and we will continue to strengthen the brand in the next chapter of its development, together with Kering. We look forward to establishing the partnership with Kering in Valentino as well as exploring further potential investment opportunities together."

Photo via Getty Images.

Kering Acquires 30 Percent Stake in Valentino

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Kering Acquires 30 Percent Stake in Valentino

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