Kering : sells 'The Mall Luxury Outlets' to Simon for E350m

(CercleFinance.com) - Kering: sells 'The Mall Luxury Outlets' to Simon for E350m

Kering announces that it has completed the sale of 100% of The Mall Luxury Outlets to Simon, a US real estate investment company that owns leading shopping centres, restaurants and entertainment venues.


The Mall, established in 2001, operates two shops in Italy, one in Leccio, near Florence, and the other in Sanremo, on the Italian Riviera.

Kering will receive a net consideration of approximately E350m for the sale of this non-strategic asset.

Kering brands will maintain a presence in these two high-end shopping destinations, as part of Kering's strategy to gradually concentrate its outlets presence on a limited number of highly exclusive destinations.


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