Artemis, a holding company owned by the Pinault family, is about to acquire a majority stake in Creative Artists Agency (CAA), the famous American talent agency such as Salma Hayek (wife of François-Henri Pinault), Brad Pitt or even Scarlett Johansson.
According to the information of Bloombergthe acquisition would have a value of 7 billion dollars (almost 6.5 billion euros).
Why should François-Henri Pinault (Kering) buy the CAA agency?
Negotiations are still ongoing, and should be completed in the coming weeks, strengthening the link between luxury and cinema. Indeed, François-Henri Pinault, France’s fourth fortune, is the CEO of the Kering group, which owns Gucci, Bottega Veneta, Balenciaga, Alexander McQueen or Brioni. But also Saint Laurent, which launched its film production banner in April 2023, to support directors such as Paolo Sorrentino, David Cronenberg, Abel Ferrara, Wong Kar Wai, Jim Jarmusch, Gaspar Noé, and even Pedro Almodovar. The latter was also presented premiered at the 2023 Cannes Film Festival Strange way to livewith Ethan Hawke and Pedro Pascala movie all dressed up in Saint Laurent.
Kering has actually been involved in cinema for a long time, especially through the Women in Motion program since 2015, which aims to ” highlight gender inequalities in the fields of arts and culture and change mindsets », and rewards women of the seventh art every year with great fanfare. Enough to allow this group of luxury to show itself as a generous patron, and above all to establish itself fully in the culture, even capable of dictating its direction.
Because if few people manage to buy luxury clothes and accessories, many more are those who pay a subscription to a streaming platform and/or cinema tickets. Valuable spaces that can also act as discreet advertising for homes.
Furthermore, this strategy becomes all the more interesting as the laws governing influencer marketing and advertising multiply and undoubtedly push brands to turn to the stars of the show who still rather escape them, as content creators increasingly subject to duty of transparency. In short, the boundary between auteur films and advertising risks becoming increasingly blurred.
Source: Madmoizelle
Mary Crossley is an author at “The Fashion Vibes”. She is a seasoned journalist who is dedicated to delivering the latest news to her readers. With a keen sense of what’s important, Mary covers a wide range of topics, from politics to lifestyle and everything in between.
