VALENTINO
Acquired by
KERING
VALENTINO acquired by KERING
Target
VALENTINO
Acquirer
KERING
Context
Kering has agreed to acquire a 30% shareholding in Valentino from Mayhoola. The agreement comprises an option for Kering to acquire 100% of the share capital of Valentino no later than 2028. The transaction is part of a broader strategic partnership between Kering and Mayhoola, which could potentially lead to Mayhoola becoming a shareholder in Kering in the future. Kering will appoint representatives to the Board of Directors of Valentino. This move aims to support Valentino's brand elevation strategy while reinforcing Kering's position in the ultra-luxury segment.
VALENTINO, which reported an EBITDA margin of LOGIN in 2022, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the 10.9x average currently observed in the Retail & Consumer sector.
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Target
Founded in Rome in 1960 by Valentino Garavani, Valentino is one of the world's most renowned luxury houses. The brand is deeply rooted in Haute Couture and offers a wide range of ready-to-wear, leather goods, and accessories. Under the ownership of Mayhoola (since 2012) and the leadership of CEO Jacopo Venturini, the brand successfully executed an elevation strategy, focusing on its heritage and red-carpet presence. In 2022, Valentino operated 211 directly operated stores in over 25 countries and generated €1.4 billion in revenue.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with VALENTINO
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 07/2012 | MAYHOOLA | VALENTINO | ITALY | Fashion & Leather Goods | Mayhoola for Investments has acquired full ownership of Valentino Fashion Group (VFG) from Red&Black Lux S.a.r.l., a holding company controlled by Permira Funds (80%) and the Marzotto family (20%). The transaction focuses specifically on the Valentino brand and the M Missoni license. The deal structure excludes the MCS-Marlboro Classics brand (which remains with Red&Black) and follows the earlier separation of Hugo Boss from the group. The acquisition was funded entirely through cash without recourse to bank financing, reflecting the financial strength of the Qatari investors. This exit marks the conclusion of Permira's ownership, during which the firm restructured the group's debt and revitalized the brand's creative direction. |
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