Kering and Ardian Sign an Investment Agreement for Prime Paris Real Estate

Kering and Ardian today announced the signature of a binding investment agreement pertaining to three highly prestigious real estate properties in Paris. This portfolio comprises Hôtel de Nocé, located 26, place Vendôme, and two buildings located on avenue Montaigne, at 35-37 and 56.

Kering is contributing these assets to a newly created joint venture. Ardian, a world-leading private investment house, will hold a stake of 60% in this unique prime real estate portfolio, Kering retaining 40% of the ownership. Net proceeds for Kering will amount to €837 million.

This transaction is part of Kering’s selective real estate strategy, aimed at securing exceptional retail locations for its Houses for the long term in the world’s most emblematic luxury districts.

For Ardian, this long-term partnership is a rare opportunity to further establish its real estate footprint in Paris through an investment in three real estate assets located on the most prestigious high streets, offering its clients access to a very exclusive real estate market.

The deal is expected to close in the first quarter of 2025, pending the fulfillment of customary conditions for real estate transactions.

Jean-Marc Duplaix, Kering Deputy CEO and Chief Operating Officer declared: “We are very pleased with this partnership, which allows us to secure for the long term highly prominent retail locations while preserving our financial flexibility. With Ardian, a leading investment firm, we have found a quality partner with whom we share a French heritage and a common vision.”

Stéphanie Bensimon, Member of the Executive Committee, Member of the Board of Ardian France and Head of Real Estate at Ardian, commented: “We are proud to partner with Kering, a global leader in luxury, to invest in iconic, stabilized properties on the premier luxury streets of Paris. This long-term, innovative joint venture embodies a transformative approach to real estate strategies for luxury groups like Kering, while opening new avenues for growth and leveraging our expertise to deliver exceptional value for our investors.”

(Press Release)