The Pinault Family Raises €400 Million to Boost Kering

Artemis, the holding company owned by the billionaire Pinault family, which controls the Kering group, has just announced that it has raised €400 million from investors. This move marks a significant turning point for the luxury group, which is preparing to welcome its new CEO from the automotive world, Italian Luca De Meo. On July 15, the CEO of Renault will step down to assist François-Henri Pinault.

The coordinators of this major financial operation have been chosen. They are the investment banks BNP Paribas, Crédit Agricole CIB, Natixis, and J.P. Morgan. The bond will mature on December 1, 2030, with an annual interest rate of between 1 and 1.5%.

The decision to raise funds now comes at a time of economic uncertainty, although the luxury industry is showing signs of resilience. Kering, which owns flagship brands such as Gucci and Saint Laurent – whose Spring/Summer 2026 men's fashion show took place yesterday in Paris during Fashion Week under the direction of Anthony Vaccarello – has experienced a particularly difficult period in recent years. The group has faced a sharp decline in sales and major challenges, particularly in the management of its flagship brand, Gucci.

With a 24% drop in revenue in the first quarter of 2025 compared to the same period last year, Gucci continues to decline. Last March, the group decided to appoint designer Demna Gvasalia as creative director in the hope of returning to growth.

Despite this, several analysts agree that the luxury market could see a rebound in the coming months, thanks to the recovery in Asia and particularly in China, which remains a key strategic focus.

The Pinault family's company has also informed investors that, in addition to annual interest payments, they will be able to realize additional gains through a cash settlement linked to the performance of the company's shares, if these increase by at least 35% from their current value by the end of 2030.

The offer has already been fully subscribed, as demand exceeded the size of the transaction. The Artemis holding company remains heavily indebted, however, with financial debt totaling €7.1 billion at the end of May. The Pinault family is therefore taking a big gamble, but François-Henri Pinault had already taken several steps to free up cash, including the sale of real estate assets for more than €800 million and a €750 million bond issue. By raising €400 million, Artemis seems to be betting on an upturn in the luxury sector, positioning itself as a player capable of supporting Kering in its future ventures. Although the group has not disclosed where the funds will be allocated, they are likely to be invested in research and innovation, digital development, and sustainable initiatives.

In any case, this operation will enable Kering to stabilize and strengthen its financial structure. Furthermore, this initiative sends a positive signal to the markets: strong investor demand has demonstrated the level of confidence in Kering's ability to recover and move forward. This could translate into a rise in the company's share price in the coming days.