Kering and Ardian completed the formation of a joint venture.

Kering, a France-based global luxury group, and Ardian, a French private investment firm, completed the formation of a joint venture. Ardian will hold a 60% stake and Kering will retain a 40% stake. “As we continue to execute our strategy regarding the management of our real estate portfolio, we are pursuing our successful partnership with leading investment firm Ardian. Like the investment agreement already signed in Paris, this transaction allows us to secure another long-term highly prominent retail location for our Houses while enhancing our financial flexibility," Jean-Marc Duplaix, Kering COO.