Kering, a French multinational holding company which develops a worldwide brand portfolio of luxury, sport and lifestyle brands, agrred to acquire Milanese building on via Monte Napoleone 8 from Blackstone Property Partners, a real estate investment fund, for €1.3bn. This investment is part of Kering’s selective real estate strategy, aimed at securing key highly desirable locations for its Houses. Kering remains focused on proactively managing its real estate portfolio with the short- to medium-term objective of retaining a stake in its prime assets alongside co-investors in dedicated vehicles.