Skip to content
RUNWAY MAGAZINE ® Official

RUNWAY MAGAZINE ® Official

RUNWAY MAGAZINE ® – International Media, Global Fashion Authority

  • RUNWAY WEB3
  • Runway Stories
  • RUNWAY PODCAST
  • Runway Videos
  • Contact Us
  • Subscribe
2023, 2024, Art, Best of, Couture, Couturier, Editor in chief, Editor-in-Chief of Runway Magazine, Eleonora de Gray, Exclusive Interview, Executive Director, Expertise Mode, Fall, Fall Winter, Fall-Winter 2023-2024, Fashion, Fashion Designer, Fashion Designer Milan, Fashion Designer Paris, Fashion Icon, Fashion Show, Fashion Week, Fashion Week 2023, Fashion week Milan, Fashion week Paris, France, Grand Couturier, Haute Couture, Issue, Issue 2023, Italy, Look, Luxe, Luxury, Milan, Milan Fashion Week 2023, News, Official Runway, Official Runway Magazine, Official Runway Magazine France, Official Runway Magazine USA, Paris, Paris Fashion Week, Paris Fashion Week 2023, PFW, Pret-a-porter, Ready-to-wear, Real Runway, Real Runway Magazine, Runway, Runway Bag, Runway com, Runway Cover, Runway Europe, Runway France, Runway Global, Runway Go, Runway Live, Runway Look, Runway Magazine, Runway Magazine 2023, Runway Magazine 2023 Issue, Runway Magazine Cover, Runway Magazine Event, Runway Magazine France, Runway Magazine Get Your Digital Subscription, Runway Magazine Get Your Digital Subscription, Runway Magazine Global, Runway Magazine Italy, Runway Magazine Metaverse, Runway Magazine Milan, Runway Magazine New York, Runway Magazine News, Runway Magazine Paris, Runway Magazine Universe, Runway Magazine US, Runway Magazine USA, Runway Magazine Worldwide, Runway Marketing, Runway Milan, Runway Net, Runway News, Runway Paris, Runway Show, Runway Universe, Runway US, Runway USA, Runway Web3, Spring Summer, Spring-Summer 2024, Story, Style, Winter

Kering’s Acquisition of 30% of Valentino – the Corrupting Power of Unchecked Ambition

Posted by Eleonora de Gray on 31st July 20231st August 2023

Kering’s Acquisition of 30% of Valentino – the Corrupting Power of Unchecked Ambition. Story by Eleonora de Gray, Editor-in-Chief of RUNWAY MAGAZINE.

Lets’ start from this: Macbeth —the destruction wrought when ambition goes unchecked by moral constraints.

Valentino 2023 vs Valentino 2028 under Kering ownership

Introduction

July 27, 2023, Kering, the French luxury conglomerate leaded by Francois-Henri Pinault, has announced its agreement to acquire a 30% stake in the luxury Italian fashion house Valentino. The acquisition, valued at 1.7 billion euros in cash, comes from Qatari investment fund Mayhoola, which is positioning itself as a strategic partner for Kering in the future development of the Maison de Couture. The agreement also includes an option for Kering to take full control of Valentino by 2028.

Francois Henri Pinault plan to obtain 100% of Valentino by 2028 paying in cash according to press release

“Kering and Mayhoola enter into a binding agreement for the acquisition by Kering of a 30% shareholding in Valentino, for a cash consideration of €1.7 billion. The agreement comprises an option for Kering to acquire 100% of the share capital of Valentino no later than 2028. The transaction is part of a broader strategic partnership between Kering and Mayhoola, which could lead to Mayhoola becoming a shareholder in Kering,” – Kering press-release.

See Press-Release HERE

This strategic acquisition couldn’t come at a more crucial time for Kering, as its powerhouse brand Gucci has been experiencing challenges in recent years, with sales rising only a meager 1% year-on-year. And Balenciaga after total destruction of brand identity and controversial publicity campaigns dramatically lost revenue.  As Gucci represents 50% of Kering’s group revenue and two-thirds of its operating profit, fixing its struggles becomes paramount for Kering’s success in the future. After firing creative director Alessandro Michele as a present for his birthday, and the untested appeal of the new chief designer Sabato De Sarno, Kering faces uncertainties in reviving Gucci’s once-soaring performance.

“Kering will become a significant shareholder with Board representation. Mayhoola will remain the majority shareholder with 70% of the share capital and will continue to execute on the successful brand elevation strategy. As part of the broader partnership, Kering and Mayhoola will explore potential joint opportunities in line with their respective development strategies. The transaction is expected to close by end of 2023, subject to clearance by the relevant competition authorities,” – Kering Press-release.

1.7 billion euros in cash

The acquisition of Valentino’s stake is a clear first step in Kering’s larger strategy to ultimately own the entire brand. While Kering’s intention is evident, the exact timing and conditions of the transition remain uncertain. Nonetheless, with Kering set to become a significant shareholder with board representation in Valentino, it marks the beginning of an important partnership between the two luxury giants.

Mayhoola’s CEO, Rachid Mohamed Rachid, expressed enthusiasm for the partnership, highlighting Valentino’s status as one of the ultimate Italian luxury authorities. As Mayhoola remains the majority shareholder with 70% of the share capital, the collaboration seeks to reinforce Valentino’s brand and explore potential joint opportunities in line with their respective development strategies.

Rachid Mohamed Rachid, CEO of Mayhoola and Chairman of Valentino, highlighted: “Valentino is one of the ultimate Italian luxury authorities and we are very happy to welcome Kering as a strategic partner for the future development of the Maison de Couture. Under our stewardship, Valentino has strengthened its foundations as a highly desirable luxury brand and we will keep reinforcing the brand in the next chapter with Kering. We look forward to our partnership with Kering in Valentino and also in other potential opportunities to explore investments together.”

The deal also provides Mayhoola, a Qatari royal family entity, an entry point into the luxury giant and sets the stage for potential further joint investments with Kering. Mayhoola’s long-term investment approach in the luxury industry includes ownership of other notable brands such as Balmain, Pal Zileri, and Beymen.

By reducing its reliance on Gucci and diversifying its portfolio with the addition of Valentino, Kering aims to strengthen its position in the luxury market. As Gucci’s growth lags behind competitors like LVMH, the acquisition comes as a strategic move to secure Kering’s place as a leading player in the fashion world.

Epilogue

Let me draw this short like a picture: the Qatari royal family, Thani dynasty, wants to enter the European Luxury market, and oppose LVMH (luxury group, who owns Louis Vuitton, Dior etc). There are some Luxury Groups worth considering like Capri Holdings Limited (founded by Michael Kors), subsidiaries: Versace, Jimmy Choo, Michael Kors, or Richemont luxury group, subsidiaries: Cartier, Chloé, Montblanc, Van Cleef & Arpels, Delvaux and many others. There are some choices. 

Kering, owned by Francois-Henri Pinault, shouldn’t be one of them. Who would want to get shares in this company?

Why?

Not like any other luxury group Kering is a group who destroys the brands, destroys the identity and historical heritage of the brand. I always have a question unanswered: why buy a haute couture brand with a beautiful history, with a royal list of clients, and turn it into a garbage truck? Examples? Gucci and Balenciaga. 

Balenciaga 1950 vs Balenciaga 2022 - Envelope Dress and Dirty Trainers
Balenciaga 1950 vs Balenciaga 2022 – Envelope Dress and Dirty Trainers

1 Balenciaga under Kering ownership Balenciaga 1950s vs Balenciaga 2023

2 Balenciaga under Kering ownership Balenciaga 1950s vs Balenciaga 2023

I never liked Gucci. Family affairs, killings among family for the heritage and money are totally not my thing. These events have blood stains all over the brand. But let’s give it a credit – Gucci bags, sneakers and sunglasses always worked. Choice of previous artistic director Alessandro Michele didn’t do any better. Maybe at some point it was a hit for the trend. Just ones. That’s all about it. So no wonder there are still the same classic Gucci bags, sneakers and sunglasses we know from the 50s-60s filling the accounts of Gucci with cash.

And on top Francois-Henri Pinault is the one who unleashed counterfeit pandemic on the world by releasing, and promoting counterfeit goods tailor Dapper Dan from Harlem. He simply invested in Dapper Dan, gave a very large sum for the promotion to known fashion magazine and TV channel, including the fashion federation in the USA. Did it work? Not really, no…. Read the full story HERE.

Francois Henri Pinault manipulation actions Dapper Dan Gucci Demna Gvasalia Balenciaga at New York Fashion Week

Now if Francois-Henri Pinault will get Valentino, give it a couple of years and you’ll see some horrors, perversity and ugly trash bags. And it feels sad. Valentino Garavani is still with us… Last year he transferred his heritage to Pierpaolo Piccioli, with the hope that elegance and grace of his house will continue. But would it with Francois-Henri Pinault? Would he even keep Pierpaolo Piccioli as an artistic director in 2028? Elegance and grace is not really in Francois-Henri Pinault style. And it’ll be all the same …. 

So this is my prediction for Maison Valentino under Kering rule: by 2028 it’ll be another dumpster with trash bags as accessories, worn by pierced models with broken teeth.

End of another beautiful story…

AccessoriesAmerican Collections CalendarAmerican Fashion MagazineArtistAutumn WinterBe FabulousBest Fashion MagazineBest ImageChicCommunicationContemporainCorrupting PowermCreateurEleganceEleonora de GrayFashion ConsultingFashion Design MagazineFashion MagFashion MagazineFashion Magazine CoverFashion Magazine DesignFashion Magazine onlineFashion MarketingFashion MediaFashion Style WebsiteFashion week by Runway MagazineFrancois Henri PinaultFrancois-Henri Pinault bought ValentinoFrancois-Henri Pinault cashHigh Fashion MagazineI love Runway MagazineIconic StyleIn style fashionInternationalInternational Fashion MagazineItalianKeringLuxury MagazineMagazineMagazine FashionMagazine StyleMagazine Style WebsiteMetiers d'artNew IssueOfficialOfficial Runway Magazine WebsitePopular Fashion MagazineRunwayRunway FashionRunway LogoRunway MagRunway MagazineRunway Magazine 2023 coversRunway Magazine BagRunway Magazine CEORunway Magazine CoverRunway Magazine Eleonora de GrayRunway Magazine IssueRunway Magazine OfficialRunway Magazine subscriptionRunway Magazine UniverseRunway Magazine USRunway Magazine USARunway MetaverseRunway UniverseRunway360Style MagazineValentino

Post navigation

Previous Post Kids-Tokei nominees Photo-competition 2023 Part 2
Next Post Runway Bag Enchanted Web3 Story
  • News
  • About RUNWAY MAGAZINE
  • RUNWAY Milestones 1995-2024 Global Influence
  • Runway Magazine First Metaverse Magazine
  • Runway Magazine Media Rights
  • Press Statement
  • Runway Magazine – Creating Immersive Luxury
  • RUNWAY MAGAZINE services
  • Editor-in-Chief of Runway Magazine
  • Podcast RUNWAY MAGAZINE
  • Runway Magazine Digital issues
  • FAQ
  • Contact Us
  • TERMS OF SERVICES
    • Conditions Générales d’Utilisation
  • PRIVACY POLICY
  • Cookie Policy

Runway Magazine Issues

Runway Magazine Cover Hermes Spring Summer 2024
Runway Magazine Cover Giorgio Armani Spring Summer 2024 Milan
Runway Magazine Cover Giorgio Armani Spring Summer 2024
Runway Magazine Cover Fendi Spring Summer 2024 Milan
Runway Magazine Cover Fendi Spring Summer 2024
Runway Magazine Cover Emporio Armani Spring Summer 2024 Milan
Runway April 2024 Cover Anne Hathaway
Runway Magazine Cover Emporio Armani Spring Summer 2024
Runway Magazine Cover Dior Spring Summer 2024
Runway Magazine Cover Fendi 2024
Runway Magazine Cover Chanel Spring Summer 2024 Paris
Runway Magazine Cover Chanel Spring Summer 2024
Runway Magazine Cover Tiffany 2024 2025
Runway Magazine Cover Louis Vuitton 2024 2025
Runway Magazine Cover Ralph Lauren 2024 2025
Runway Magazine Cover Haute Couture Chanel 2024 2025
Runway Magazine Cover Dior 2024 2025
Runway Magazine Cover Chanel Couture 2024
Runway Magazine Cover Chanel Couture 2024 2025
Runway Magazine Cover Chanel 2024 2025
Runway Magazine Cover Dior Couture 2024 2025
Kamala Harris The New Lady Liberty Runway Magazine 2024 cover story
Kamala Harris The New Lady Liberty Runway Magazine cover 2024
Runway Magazine Cover Ralph Lauren 2024
Runway Magazine Cover Armani Prive Spring Summer 2025
Runway Magazine Cover Chanel Spring Summer 2025
Runway Magazine Cover Chanel Spring Summer 2025 2
Runway Magazine Cover Fendi Fall Winter 2025 2026
Runway Magazine Cover Fendi Spring 2025
Runway Magazine Cover Giorgio Armani Fall Winter 2025 2026
Runway Magazine Cover Giorgio Armani Spring Summer 2025
Runway Magazine Cover Ariana Grande Spring Summer 2025 Printed Edition
SUBSCRIBE TO RUNWAY MAGAZINE 4
Loading
Wicked Oscars 2025 – Best Looks
Wicked Oscars 2025 – Best Looks
By Eleonora de Gray
Valentino Spring Summer 2025 Couture
Valentino Spring Summer 2025 Couture
By Eleonora de Gray
Dolce Gabbana Exhibition in Paris – From the Heart to the Hands
Dolce Gabbana Exhibition in Paris – From the Heart to the Hands
By Eleonora de Gray
Devil Wears Prada Musical Gala with Runway Magazine
Devil Wears Prada Musical Gala with Runway Magazine
By RUNWAY MAGAZINE
Celine Dion and Jennifer Lopez at The 1001 Seasons of Elie Saab
Celine Dion and Jennifer Lopez at The 1001 Seasons of Elie Saab
By Ana Topi
View all stories
  • Runway Magazine 2012 issue
  • Runway Magazine 2013 issue
  • Runway Magazine 2014 issue
  • Runway Magazine 2015 issue
  • Runway Magazine 2016 issue
  • Runway Magazine 2017 issue
  • Runway Magazine 2018 issue
  • Runway Magazine 2019 issue
  • Runway Magazine 2020 issue
  • Runway Magazine 2021 issue
  • Runway Magazine 2022 issue
  • Runway Magazine 2023 issue
  • Runway Magazine 2024 issue
  • Runway Magazine 2025 issue
  • RUNWAY WEB3
  • Runway Stories
  • RUNWAY PODCAST
  • Runway Videos
  • Contact Us
  • Subscribe
  • RUNWAY MAGAZINE ® on Facebook
  • RUNWAY MAGAZINE ® on Pinterest
  • RUNWAY MAGAZINE ® on Instagram
  • RUNWAY MAGAZINE ® on LinkedIn
  • RUNWAY MAGAZINE ® on Youtube
  • RUNWAY MAGAZINE ® on Vimeo

3770003953012_www_RUNWAYMAGAZINES_com GLOBAL LOCATION NUMBER

Proudly powered by RUNWAY | MAGAZINE
Translate »

SUBSCRIBE TO RUNWAY MAGAZINE 4

Wicked Oscars 2025 – Best Looks Valentino Spring Summer 2025 Couture Dolce Gabbana Exhibition in Paris – From the Heart to the Hands Devil Wears Prada Musical Gala with Runway Magazine Celine Dion and Jennifer Lopez at The 1001 Seasons of Elie Saab