THE WHAT? Kering SA, the luxury conglomerate behind Gucci, has acquired a prime real estate asset for €1.3 billion on Milan’s elite Via Monte Napoleone from a Blackstone Property Partners Europe subsidiary. This 18th-century building, extending over five floors with more than 5,000 square meters of retail space, hosts prestigious tenants such as Cova and Prada, marking a strategic addition to Kering’s luxury retail footprint.
THE DETAILS The purchase signifies a milestone in the Italian real estate market, representing the largest asset sale of its kind, according to Luigi Caruso of Blackstone, reflecting the robust investor demand for high-quality real estate in premier locations. It aligns with Milan’s broader urban revitalization, transforming dilapidated neighborhoods into high-end areas, and follows Kering’s strategy of acquiring key locations, as seen with their recent investment in Manhattan’s Fifth Avenue.
THE WHY? Kering’s acquisition strategy focuses on securing strategically important locations to enhance its brands’ global visibility, with a plan to co-own only a select number of exceptional buildings in major cities to add value to its labels. Deputy CEO Jean-Marc Duplaix emphasized the company’s intent to remain agile through partnerships with financial funds, limiting real estate exposure and clarifying that Kering does not aspire to become a property developer, highlighting a focused approach to support the luxury group’s retail presence.
Clinical aesthetics products refer to a category of products used in the field of medical aesthetics or cosmetic dermatology. These products are typically designed and formulated to be used under the supervision of healthcare professionals, such as dermatologists, plastic surgeons, or trained aestheticians. They are distinct from over-the-counter cosmetics in that they often contain active ingredients or formulations that require expertise in their application or administration.
Examples of clinical aesthetics products include:
-
Dermal Fillers: Injectable substances used to add volume, smooth wrinkles, and enhance facial contours. Examples include hyaluronic acid fillers like Juvederm and Restylane.
-
Botulinum Toxin (Botox): Injectables that temporarily paralyze facial muscles to reduce the appearance of wrinkles caused by repetitive movements, such as frown lines and crow's feet.
-
Chemical Peels: Solutions applied to the skin to exfoliate and improve its texture. They can treat acne, pigmentation issues, and signs of aging.
-
Laser and Light Therapies: Devices that emit focused light or laser energy to treat various skin conditions, including acne, scars, and signs of aging.
-
Prescription Skincare Products: Formulations containing active ingredients like retinoids (vitamin A derivatives), hydroquinone, or prescription-strength antioxidants to address specific skin concerns under medical supervision.
