Artemis, the holding company behind Kering, has agreed to sell its majority stake in Giambattista Valli back to the Italian brand’s founder. The Pinault family vehicle did not disclose the deal’s value. The brand, known for airy floral designs typically retailing from around $2,000, has faced financial strain amid faltering demand for high-end fashion. In January, Valli canceled its Paris haute couture show at short notice citing a business review. Founder Giambattista Valli said the agreement allows him to regain full control of his brand, as Artemis continues to divest underperforming assets amid rising debt.

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