Kering has agreed to sell an 80% stake in its Via Monte Napoleone property in Milan to Qatar’s Al-Mirqab Group for 1.16 billion euros ($1.35 billion), as the French luxury group moves to reduce debt. The Gucci owner will retain a 20% equity stake. Kering receives an immediate 729 million euros ($846 million), with an additional 432 million euros ($502 million) due in five years. The transaction values the property at 1.45 billion euros ($1.68 billion). Kering originally acquired the building for 1.3 billion euros ($1.51 billion) in 2024.

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