Located on the most prominent corner of the city’s Quadrilatero della Moda, the 18th century building is developed over five floors, totaling 11,800 sq. m. gross area. The property includes more than 5,000 sq. m. of retail space, making it one of the largest in via Monte Napoleone.
Kering acquired the historic Milanese building on via Monte Napoleone 8 for $1.41 bn from a Blackstone subsidiary.
The 18th-century building spans five floors with 11,800 sq. m. gross area, including over 5,000 sq. m. of retail space.
This acquisition is in line with Kering’s real estate strategy, which focuses on securing prime locations for its luxury brands.
This investment is part of Kering’s selective real estate strategy, aimed at securing key highly desirable locations for its Houses.
Keringremains 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.
Note: The content of this press release has not been edited by Fibre2Fashion staff.
Fibre2Fashion News Desk (RM)