The Future. Billionaire and luxury king Francois-Henri Pinault is reportedly in talks to buy Creative Artists Agency in a massive deal. If the sale closes, expect many Kering-owned brands, including Gucci and Bottega Veneta, to have a larger role in outfitting Hollywood.
Reach for the starsCAA may be getting a French makeover.
Pinault, the largest shareholder in fashion conglomerate Kering SA, may purchase CAA from private equity firm TPG for $7 billion.
Puck’s Matt Belloni says that’s a sky-high number, but it’s in the ballpark of rival Endeavor’s $11 billion market cap (though that’s mostly buoyed by UFC).
The deal could still fall apart, but it would keep CAA private while still under the ownership of a public company (TPG went public last year).
The potential deal shows deepening ties between entertainment and fashion is becoming a new strategy for expanding luxury houses’ influence to a new generation. Case in point, LVMH tapped Pharrell as its men’s creative director at Louis Vuitton, and Saint Laurent launched its own dedicated production company.
And in case you were wondering: yes, Pinault’s wife, Salma Hayek, is a CAA client. It looks like she’ll be a lifer at the agency.
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