Reported 1 day ago
Kering and Mayhoola have amended their agreement concerning Valentino, postponing ownership changes until 2028. This decision, made after Kering's recent general meeting, extends Mayhoola's put options on Kering and prolongs Kering's right to purchase the remaining stake in Valentino, allowing the group to delay incurring additional debt as it manages financial challenges and restructuring. Despite a decline in Valentino's 2024 revenues, both companies reaffirm their commitment to the brand's long-term success.
Source: YAHOO