Kering Acquires Historic Milanese Building for €1.3 Billion

8 April 2024

Kering recently announced its acquisition of the iconic via Monte Napoleone 8 building in Milan, a historic structure situated at the heart of the city's Quadrilatero della Moda, for approximately €1.3 billion. The purchase was made from a subsidiary of Blackstone Property Partners Europe.

The 18th-century building spans five floors, boasting a total gross area of 11,800 square metres. Within this space, there are more than 5,000 square metres dedicated to retail, making it one of the largest properties on via Monte Napoleone.

This acquisition aligns with Kering's strategic approach to real estate, which prioritizes securing prime locations for its Houses. The company is committed to actively managing its real estate portfolio, with the short- to medium-term goal of maintaining ownership stakes in key assets, often through collaboration with co-investors in dedicated vehicles.

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