French luxury fashion conglomerate Kering’s CEO Luca De Meo is preparing to launch a new investment platform, as reported by Reuters citing an internal memo.
Called House of Dreams, the unit backs emerging businesses and reduces the luxury group’s reliance on Gucci.
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The proposed unit would receive long-term funding to acquire minority or majority stakes in emerging companies.
Early areas of interest highlighted in the memo include experiential technology, Indian craftsmanship and “culture-led” Chinese luxury.
The Pinault family-controlled company registered the “House of Dreams” trademark in France in October 2025, according to filings on the website of the National Institute of Intellectual Property (INPI).
Kering stated that its focus remains on reinforcing its current portfolio of brands, but added: “At the same time, Kering is preparing for all the possible futures of luxury, whether new business models, new services, or new geographies.”
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By GlobalDataThe group described the information circulated internally as “preliminary working assumptions” ahead of a broader strategy update due in 2026.
De Meo describes House of Dreams as a central proposal of his strategy and has stated that the vehicle is intended to help “de-risk” Kering’s dependence on Gucci and “rebalance” the contribution of fashion to the group’s long-term profitability.
Gucci currently generates half of Kering’s operating income, and turning around the brand remains a core objective.
The document also indicated that the investment arm would draw on Kering’s access to affluent customers, and noted similarities with investment structures already in place at rivals such as LVMH and L’Oréal.
However, it pointed to the group’s relatively high debt as a constraint on pursuing very large deals.
A 90-day pilot phase is planned for House of Dreams, supported by a seed fund and an initial team. The memo did not specify when the unit could be fully launched.
In October 2025, Kering reported third-quarter (Q3) 2025 revenue of €3.4bn ($3.94bn), a 10% decline on a reported basis and a 5% decrease on a comparable basis.
Kering also recently agreed to sell its beauty business to L’Oréal for €4bn.
The deal includes the transfer of the House of Creed and the beauty and fragrance licences for Kering’s luxury brands to L’Oréal.
The transaction, payable in cash, is expected to close in the first half of 2026, subject to regulatory approvals.
