Kering postpones call option for Valentino

French luxury group Kering and Qatari investment firm Mayhoola have revised their agreement regarding the ownership structure of Italian fashion house Valentino. Both parties announced on Wednesday that Valentino's ownership structure will remain unchanged until at least 2028.

Mayhoola currently holds 70 percent of Valentino's shares. Kering acquired the remaining 30 percent from the investment firm in 2023 for a purchase price of 1.7 billion euros. As part of the transaction, the two companies agreed on options that would allow Kering to fully acquire the fashion house in the coming years.

Valentino ownership structure to remain unchanged until at least 2028

The timeframe for these options has now been modified. Mayhoola's put options, originally valid for 2026 and 2027, have been postponed to 2028 and 2029, respectively. Kering's call option for the remaining Valentino shares currently held by Mayhoola has simultaneously been postponed from 2028 to 2029. "Due to this adjustment, the current ownership structure of Valentino will not change before 2028," Kering stated. All other terms and conditions of the options remain unchanged.

Both companies also emphasised their intention to continue their collaboration at Valentino. "At a time when a new chapter has begun at Valentino with the appointment of Riccardo Bellini as CEO, Kering and Mayhoola reaffirm their strategic partnership to support the development of the legendary Italian luxury fashion house and remain fully committed to its long-term success," a statement said.

This article was translated to English using an AI tool.

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