Kering raises another $690 million from property deal
Luxury group Kering has worked with Paris-based private investment group Ardian to close 2025 the way it started it, by raising hundreds of millions of euro through a property deal.
In January 2025, Kering and Ardian set up a new joint venture with three properties (previously owned by Kering on its own) in the French capital as its assets.
Ardian acquired 60% ownership of these properties, for which it will pay a total of €837 million. Kering will retain the remaining 40% of ownership.
On December 16, Kering and Ardian today announced the execution of a similar deal in New York. A Kering property located on Fifth Avenue in Manhattan will now, similar to the Paris deals, become an asset of the Ardian-Kering joint venture.
The Manhattan property offers multi-level luxury retail spaces over a total area of nearly 11,000 square-metres.
Through the joint venture, Ardian will now hold a 60% stake in the New York property, with Kering retaining 40%. This marks Ardian’s first real estate investment in the US. Kering will receive $690 million as a result of the deal.
The luxury group’s chief operating officer, Jean-Marc Duplaix, said: “As we continue to execute our strategy regarding the management of our real estate portfolio, we are pursuing our successful partnership with Ardian. Like the investment agreement already signed in Paris, this transaction allows us to secure another long-term, highly prominent retail location for our houses while enhancing our financial flexibility.”
