Kering: Acquisition of prestigious Fifth Avenue property in New York City
22 Gennaio 2024 - 6:16PM
Kering: Acquisition of prestigious Fifth Avenue property in New
York City
Press release - Acquisition of Fifth Avenue property in
New York 220124
PRESS RELEASE |
January 22, 2024 |
ACQUISITION OF PRESTIGIOUS FIFTH
AVENUE PROPERTY IN NEW YORK
CITY
Kering today announced the acquisition of a
prestigious New York City property comprising multi-level luxury
retail spaces, totaling approximately 115,000 sq. ft, or 10,700 sq.
m., located at 715-717 Fifth Avenue, on the Southeast corner of
56th Street, for a consideration of USD963m (EUR885m).
With this transaction, Kering acquires
exceptional retail locations on one of the world’s most iconic
avenues. This investment represents a further step in Kering’s
selective real estate strategy, aimed at securing key highly
desirable locations for its Houses. In addition to recently
acquired prime properties on avenue Montaigne and rue de
Castiglione in Paris, the Group’s portfolio includes landmark
assets in Tokyo’s Omotesando, and the Hôtel de Nocé housing
Boucheron’s Paris flagship. In line with its longstanding financial
strategy, Kering intends to execute a disciplined and flexible
approach with regards to the management of its real estate
portfolio.
About Kering
A global Luxury group, Kering manages the
development of a series of renowned Houses in Fashion, Leather
Goods and Jewelry: Gucci, Saint Laurent, Bottega Veneta,
Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo,
Qeelin, Ginori 1735 as well as Kering Eyewear and Kering Beauté. By
placing creativity at the heart of its strategy, Kering enables its
Houses to set new limits in terms of their creative expression
while crafting tomorrow’s Luxury in a sustainable and responsible
way. We capture these beliefs in our signature: “Empowering
Imagination”. In 2022, Kering had over 47,000 employees and revenue
of €20.4 billion.
Contacts
Press |
|
|
Emilie
Gargatte |
+33 (0)1 45 64 61
20 |
emilie.gargatte@kering.com |
Marie de
Montreynaud |
+33 (0)1 45 64 62
53 |
marie.demontreynaud@kering.com |
|
|
|
Analysts/investors |
|
|
Claire
Roblet |
+33 (0)1 45 64 61
49 |
claire.roblet@kering.com |
Julien
Brosillon |
+33 (0)1 45 64 62
30 |
julien.brosillon@kering.com |
- Press release - Acquisition of Fifth Avenue property in New
York 220124
Grafico Azioni Kering (TG:PPX)
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