K
ering, a luxury conglomerate, has partnered with private investment firm Ardian to form a joint venture for three high-profile Paris properties. The portfolio includes the Hôtel de Nocé at 26 Place Vendôme and two prime Avenue Montaigne locations. Under the agreement, Ardian will hold a 60% stake in the properties, while Kering retains 40%, generating €837 million in net proceeds for the group. The deal is expected to close by Q1 2025.
The partnership aims to secure long-term access to premium retail spaces and maintain financial flexibility for Kering. This innovative collaboration has the potential to transform the luxury brand and real estate investment landscape, according to Ardian's Head of Real Estate, Stéphanie Bensimon.
