Artemis, the holding company behind Gucci owner Kering, has agreed to sell its majority stake in Giambattista Valli to the Italian luxury brand's founder, as it presses ahead with a disposal drive targeting underperforming investments.
The Pinault family vehicle has been grappling with high debts following a string of acquisitions amid a global downturn in luxury spending.
In January, it sold a 29% stake in Puma to China's Anta Sports Products for €1.5bil (approximately RM6.9bil).
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Artemis did not disclose the value of the Giambattista Valli deal. A 2025 filing in France showed the brand's share capital was €1.1mil (RM5.1mil).
"After years of exciting collaboration, a new chapter is beginning in this entrepreneurial venture," Artemis president Francois-Henri Pinault said of the brand.
Giambattista Valli dresses typically retail from about US$2,000 (RM7,920), though many are now heavily discounted on ecommerce sites such as Farfetch and Mytheresa.
The Italian label, known for its airy floral styles, is facing financial strain as demand falters for high-end fashion, along with peers including Valentino and Dolce & Gabbana.
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In January, Valli cancelled its Paris haute couture show at short notice, citing an in-depth review of its business.
"This agreement now allows me to regain full control of my brand and to continue developing it with enthusiasm and energy," designer and founder Giambattista Valli said in a statement on Wednesday (May 20). – Reuters
