Valentino sale under consideration by Kering and Mayhoola
The decision is part of a broader portfolio review by Kering, as the French luxury group faces rising debt, softening global demand for high-end fashion, and pressure on the stock market, Corriere della Sera reported Friday.
Kering acquired a 30% stake in Valentino in 2023 for $1.7 billion, with a commitment to purchase the remaining 70% by 2028. The move was intended to establish a second flagship brand alongside Gucci, rooted in couture heritage.
Kering's newly appointed chief executive, Luca de Meo—former CEO of carmaker Renault—is expected to take charge of the situation after officially starting on September 15. The newspaper noted that Kering declined to comment, and Mayhoola did not respond to a request for comment.
Valentino, headquartered in Rome, announced last month that its chief executive officer, Jacopo Venturini, is on medical leave.
Last year, the brand appointed Alessandro Michele as its new creative director following the departure of long-serving designer Pierpaolo Piccioli. In the same year, Valentino reported a 2% decline in revenue at constant exchange rates, reaching 1.31 billion euros ($1.52 billion).
($1 = €0.8607)
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