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Kering may find its real estate empire makes for a flimsy safety net. The $34 billion Gucci owner has suffered from falling revenues and rising debt. Incoming CEO Luca de Meo could flog more of the group’s €4-billion ($5 billion) store portfolio to ease the company’s ballooning leverage. But selling stakes only chips away at the problem, and vacating plush addresses could hand rivals a leg up.
The French luxury firm has spent €3.9 billion building up its real estate empire since 2022….
