Kering has sold its entire stake in The Mall Luxury Outlets to US real estate trust Simon for 350 million euros ($375 million) in net gains. The Mall operates two luxury discount stores in Italy. Kering’s luxury brands will continue to operate in these outlets, but the group plans to focus its outlet distribution on fewer exclusive locations. Simon, a leader in shopping and entertainment properties, owns venues across North America, Europe, and Asia, generating billions in annual sales.