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Finance

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

Published by Global Banking and Finance Review

Posted on January 30, 2025

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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 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)