France $43 Billion Luxury Group & Owner of Gucci Brand Kering Sells 60% Stake in Iconic New York City Property (715-717 Fifth Avenue) for $900 Million ($690 Million Net) at $1.5 Billion Valuation to France $196 Billion Investment Firm Ardian in Joint Venture with Kering to Retain 40% Stake
20th December | Hong Kong
France luxury group & owner of Gucci brand Kering ($43 billion market value) has announced to sell 60% stake in iconic New York City property (715-717 Fifth Avenue) for $900 million ($690 million Net) at $1.5 billion valuation to France investment firm Ardian ($196 billion AUM) in joint venture, with Kering to retain 40% stake. Announcement (16/12/25): “Kering and Ardian today announced the execution of a joint venture agreement effective immediately regarding the Kering property located at 715-717 Fifth Avenue in New York City. This exceptional location on one of the world’s most iconic avenues comprises multi-level luxury retail spaces totaling approximately 115,000 sq. ft (10,700 sq. m.). Following the partnership concluded earlier this year, Kering is contributing this asset to a newly created joint venture with Ardian, which will hold a 60% stake, with Kering retaining 40%. Kering’s interest in the joint venture will be accounted for under the equity method as of today. The transaction amounted to USD900 million (EUR766 million), with net proceeds for Kering USD690 million (EUR587 million).” Kering – Kering is a global, family-led luxury group, home to people whose passion and expertise nurture creative Houses across ready-to-wear and couture, 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 and Kering Beauté. Inspired by their creative heritage, Kering’s 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 2024, Kering employed 47,000 people and generated revenue of €17.2 billion. Ardian – In a world of constant evolution, Ardian stands out for its ability to anticipate, adapt, and turn challenges into opportunities. As a global, diversified private markets firm with 22 offices and more than 350 investment professionals worldwide, we provide investment and customized solutions that reflect new economic dynamics and help our clients remain resilient in a changing world. We deliver multi-local expertise and long-term performance for our investors and partners as well as shared value for the broader society. Since Ardian’s inception in 1996, our pioneering approach to diversification and our ability to offer tailor-made solutions at scale have remained the heart of our strategy. Through commitment, knowledge and technology, we bring lasting value to our companies and contribute positively to the whole industry. Ardian currently manages or advises $196bn for more than 1,890 clients worldwide across Private Equity, Real Assets, and Credit. Ardian. Mastering change for lasting value.
“ France $43 Billion Luxury Group & Owner of Gucci Brand Kering Sells 60% Stake in Iconic New York City Property (715-717 Fifth Avenue) for $900 Million ($690 Million Net) at $1.5 Billion Valuation to France $196 Billion Investment Firm Ardian in Joint Venture with Kering to Retain 40% Stake “
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France $43 Billion Luxury Group & Owner of Gucci Brand Kering Sells 60% Stake in Iconic New York City Property (715-717 Fifth Avenue) for $900 Million ($690 Million Net) at $1.5 Billion Valuation to France $196 Billion Investment Firm Ardian in Joint Venture with Kering to Retain 40% Stake
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