Kering reportedly negotiating sale of Milan property to Qatar, according to Corriere's reports
Kering, the French luxury group behind the iconic Gucci brand, is currently in negotiations to sell a majority stake in a historic building on Via Montenapoleone, Milan's premier shopping street, to a buyer linked to a member of the Qatari royal family.
The 18th-century property in question was purchased by Kering from Blackstone for €1.3 billion in April 2021. The proposed deal's valuation is expected to be similar to this purchase price.
The sale is a strategic move by Kering to reduce its debt, which surpassed €10 billion ($11.58 billion) in 2024 due to a series of expensive acquisitions. The company is under pressure to trim debt and revive declining sales, particularly at its top brand Gucci.
The potential buyer is a vehicle linked to Hamad bin Jassim bin Jaber Al Thani, former Qatari prime minister and real estate billionaire. However, Kering has not officially commented on this transaction, and Hamad bin Jassim bin Jaber Al Thani has not been reached for comment.
Earlier in 2025, the Qatar Investment Authority had denied any interest in a potential Qatari-Kering deal for the Via Montenapoleone property. The current buyer is described as linked to Hamad Al Thani.
In summary:
- Seller: Kering (Gucci owner)
- Asset: 18th-century building on Via Montenapoleone, Milan
- Buyer: Entity linked to Hamad bin Jassim bin Jaber Al Thani (Qatari royal family)
- Deal purpose: To reduce Kering’s high debt
- Deal status: Negotiations ongoing as of early August 2025; no official confirmation yet.
[1] Corriere (2025) - Kering in Talks to Sell Historic Milan Building to Qatari-Linked Entity [2] Bloomberg (2025) - Kering Considers Selling Milan Building to Qatari-Linked Vehicle [3] Reuters (2025) - Kering in Talks with Qatari-Linked Buyer for Milan Building [4] Financial Times (2025) - Kering Weighs Sale of Milan Building to Qatari Investor [5] Qatar Investment Authority (2025) - No Interest in Qatari-Kering Deal for Via Montenapoleone Property
- The potential real-estate sale by the Gucci owner Kering, involving an 18th-century building on Milan's Via Montenapoleone, is being pursued as part of an investment strategy to minimize business debt.
- The forthcoming transaction, should it materialize, could see a Qatari-linked entity with ties to Hamad bin Jassim bin Jaber Al Thani become the new owner of the prime property, a move that has been prompted by Kering's debt accumulation and the need to revitalize Gucci's flagging sales.
