Last week, as Artemis, the Pinaults' family office and largest shareholder in Kering, was arranging a €400m bond issue to shore up Kering's share price (on which the bond premium is indexed), another player was upping its stake in the luxury company. On 27 July, Parvus Asset Management, a minority shareholder for several years, reached the 5% threshold courtesy of equity swaps. The company, founded and run by Edoardo Mercadante, has also held a stake in the hotel chain Accor since 2023, which currently
Front Row | United Kingdom
Edoardo Mercadante, the activist shareholder in Kering and Accor
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By Philippe Vasset
Last week, his company Parvus Asset Management acquired a 5% stake in Kering, two months before shareholders are due to decide on the remuneration package of the luxury company's new boss, Luca de Meo. Two years ago, it also became a shareholder in the hotel giant Accor, in which Parvus still holds 9.99%.
