Dreams are desires, and celluloid dreams only come true in the Hollywood hills. Triumph of critics at the last Cannes Film Festival for the first short film of a newborn Saint Laurent Productionswhat from Pedro Almodovar with Ethan Hawke and Pedro Pascalhe must have convinced François-Henri Pinault be more daring and it is in the country of cinema. so information about the operation conceived by the French luxury magnate to take over most of the company was revealed. Creative Artists Agency (Caa)super agency based in Beverly Hills since 1975 and specializing in art management and directing actors such as Brad Pitt, Zendaya and Bradley Cooper, as well as Pino’s own wife, Salma Hayek.and also from beyoncé.
Seven billion dollars for a talent agency
Kering owner close to acquiring it talent agency from the American fund Tpg Capital at a cost of around $7 billion, he says. Bloomberg. That valuation represents an increase from the $5.5 billion the agency made last year from acquisitions from rival ICM Partners. Temasek Holdings Pte
, a Singapore government investment company, could instead increase its stake in Caa by buying shares from China’s Cmc Capital. As part of the agreement, custodial agents will have the opportunity to sell a small portion of the shares, while a small number of agents will be asked to renegotiate their contracts in order to continue cooperation in the coming years.
TOTechnical details aside, the operation, if completed, will provide access to celebrities who can enhance the brands in Pinault’s portfolio. In fact, with the help of the Artemis safe, the Pinault family controls the Kering company and its brands (Gucci, Balenciaga, Saint Laurent, Bottega Veneta), the Christie’s auction house, the Ponant cruise company, the prestigious wineries Chteau-Grillet, Eisele Vineyard and Le Clos-de -Tart as well as magazines Le Point AND Pointe de Vu and in Rennes, which plays in Ligue 1 of the French championship.A $33.7 billion bouquet of luxurious jewels crowns the French dynasty in 33rd place in the ranking of France’s multi-billionaires. Forbes. To increase the wealth of François’ grandparent, a former Breton timber and sugar merchant, François-Henri’s eldest son, president of the Artemis company and CEO of Kering, who through this deal with expands the family portfolio to a seventh art, albeit at a somewhat turbulent moment marked by strikes by American screenwriters for more adequate pay, while in the background new players like Netflix and Disney are undermining the studios.
It should be noted that the blitz comes during a particularly hot summer for Pino, who is busy redefining Kering’s management structure and adding pearls to his thread. First, the actual reorganization of senior management, the unexpected goodbye of Gucci CEO Marco Bizzarri eight months after the departure of creative director Alessandro Michele, and the promotion of Francesca Bellettini, number one at YSL, to the position of vice president. President Kering. Then the purchase of 30% of Valentino from Mayhoola for 1.7 billion, with the possibility of acquiring up to 100% of the Italian brand. Finally, the purchase of Creed fragrances is financed with $3.8 billion in bonds. The strategy takes a radical turn to put market discontent behind it: in fact, the stock never peaked at €758 in July 2021 and is hovering around €500, while its rival Lvmh has overvalued by 16% over the same period. And dispel the clouds on Gucci, whose sales account for half of Kering’s operating income and nearly two-thirds of its operating income. Revenue fell 1% to $5.1 billion in the first half, while recurring operating income fell 4% to $1.81 billion. Pino himself admitted that annual turnover should be very different: Gucci’s potential exceeds 15 billion euros, he frankly admitted. . fashion business. In short, a new narrative is needed. Meanwhile the actors are there.