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    Home > Finance > Kering sells Italian luxury outlets to U.S. investor Simon
    Finance

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

    Published by Global Banking and Finance Review

    Posted on January 30, 2025

    1 min read

    Last updated: January 26, 2026

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    Tags:Real estateinvestment

    Quick Summary

    Kering sold its Italian luxury outlets to Simon for 350M euros, as part of a real estate restructuring. Kering brands will stay at the Florence and Sanremo locations.

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

    1What 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.

    2Who bought Kering's Italian outlets?

    U.S. real estate investor Simon purchased Kering's Italian luxury outlets.

    3What 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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