Gucci owner Kering SA (EPA:KER) and Qatar investment fund Mayhoola are reportedly mulling the sale of Italian fashion house Valentino.
An initial public offering is one of the options being considered for the historic fashion house, Italian newspaper Corriere della Sera reported, citing multiple sources.
The Paris-listed group is pondering the decision as part of a wider review of its various holdings, with founder and main shareholder François-Henri Pinault having splashed an estimated €14 billion on acquisitions in the past few years.
However, a towering €10.5 billion debt pile after the slowdown in the luxury market in the past couple of years has led to difficulties for Gucci and the wider group.
Adding to a stable that includes Balenciaga, Alexander McQueen and Yves Saint Laurent, Kering bought a 30% stake in Valentino in 2023 for €1.7 billion, with an option to increase this to 100% between May 2026 and the end of 2028, with Mayhoola also having an option to sell the remaining 70% to Kering.
The French group's new chief executive, Luca de Meo, will present a review of the business next year, after he starts in mid-September.