In a deal that shows the ever-growing convergence of fashion and fame, François-Henri Pinault, the French billionaire and chief executive of the luxury goods company Kering, said on Thursday that his family office had bought a majority stake in one of Hollywood’s biggest talent agencies, Creative Artists Agency.
Mr. Pinault’s family office, Artémis, already has investments that include the auction house Christie’s and a stake in Puma, and like them, CAA will be managed separately from Kering, which owns such brands as Gucci, Saint Laurent and Balenciaga.
The announcement comes as talent — actors, singers, filmmakers — has become a uniquely powerful tool in selling products.
There is now a growing race among fashion brands to lock in relationships with the next big name.
“There’s no separation between fashion and entertainment any more,” said Robert Burke, the eponymous founder of a luxury consultancy, calling the deal a “natural, if unprecedented, evolution.”
Persons:
Henri Pinault, Pinault’s, Saint Laurent, Balenciaga, —, “, ”, Robert Burke
Organizations:
Creative Artists Agency, Mr, Puma, CAA, Gucci
Locations:
Kering