Pinault family buys stake in Maison Vall (2)

(ANSA) - Rome, June 29 - Artémis, the investment arm of the Pinault family, announced on Thursday it has reached an agreement to buy a minority stake in Maison Valli, which was created by Italian fashion designer Giambattista Valli in 2004.
    The agreement aims to develop Maison Valli and includes the possibility of acquiring control of the fashion house at a later stage, the two companies said in a statement.
    The financial terms of the deal have not been released but Artémis could acquire one-third of the capital by 2020 and become a majority shareholder by 2021, according to unconfirmed reports.
    The brand is distributed through global retailers and Giambattista Valli stores in Milan, Paris, Saint Tropez and Seoul. The Pinaults control France's second-largest luxury group, Kering, which includes Gucci, Bottega Veneta, Balenciaga, Saint Laurent and Alexander McQueen.
    Valli, a 51-year-old Roman, founded his fashion house in 2004 after stints at Fendi, Krizia and Emanuel Ungaro, where he worked as creative director.
    He produces both ready-to-wear and haute couture collections, which he shows in Paris, and a junior line, Giamba, which he has debuted in Milan.