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Kering sells Italian luxury outlets to U.S. investor Simon

Published by Global Banking & Finance Review

Posted on January 30, 2025

1 min read

· Last updated: January 26, 2026

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PARIS (Reuters) - French luxury group Kering announced on Thursday it had sold 100% of its Italian The Mall Luxury Outlets to U.S. real estate investor Simon, generating some 350 million euros in net

Kering Sells Italian Luxury Outlets to U.S. Investor Simon

PARIS (Reuters) - French luxury group Kering announced on Thursday it had sold 100% of its Italian The Mall Luxury Outlets to U.S. real estate investor Simon, generating some 350 million euros in net proceeds as part of a wider plan to restructure its real estate portfolio.

Kering's brands will maintain a presence in the two sites, located near Florence and Sanremo, the company said.

(Reporting by Tassilo Hummel; Editing by Makini Brice)

Key Takeaways

  • Kering sold its Italian luxury outlets to Simon.
  • The sale generated 350 million euros in net proceeds.
  • Kering aims to restructure its real estate portfolio.
  • Kering brands will remain at the Florence and Sanremo sites.
  • The transaction is part of a broader strategic plan.

Frequently Asked Questions

What is the main topic?
The main topic is Kering's sale of its Italian luxury outlets to U.S. investor Simon, generating 350 million euros and part of a real estate restructuring plan.
Who bought Kering's Italian outlets?
U.S. real estate investor Simon purchased Kering's Italian luxury outlets.
What will happen to Kering's brands?
Kering's brands will maintain a presence in the outlets located near Florence and Sanremo.

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