[1/2] Cars are shown lined up at the valet parking area outside the Creative Artists Agency building in Los Angeles, California, September 24, 2012.
REUTERS/Jonathan Alcorn Acquire Licensing RightsPARIS, Sept 7 (Reuters) - French luxury goods billionaire Francois-Henri Pinault has reached an agreement for a majority stake in Creative Artists Agency (CAA), adding Hollywood's premiere talent agency to his family empire which spans fashion, wine and contemporary art, parties involved said on Tuesday.
The presence of stars like Beyonce, Zendaya and Rihanna have become key to drawing the spotlight to fashion shows, and Kering's larger rival LVMH(LVMH.PA) recruited Pharrell Williams to head menswear designs for Louis Vuitton.
TPG first invested in CAA in 2010 and, in 2014, increased its stake to 53% in a deal valuing the agency at $1.1 billion.
Global investment firm Temasek will remain a minority investor in the agency while CMC Capital will remain a "strategic partner", according to a statement.
Persons:
Jonathan Alcorn, Francois, Henri Pinault, Pinault, Gucci, Beyonce, Zendaya, Rihanna, Pharrell Williams, Louis Vuitton, Pinault's, Salma Hayek, Valentino, perfumer, Bryan Lourd, Kevin Huvane, Richard Lovett, Lourd, Sudip Kar, Mimosa Spencer, Dawn Chmielewski, Jonathan Oatis, Tomasz Janowski, Timothy Gardner
Organizations:
Creative Artists Agency, REUTERS, Rights, CAA, Artemis, TPG, Global, CMC Capital, Thomson
Locations:
Los Angeles , California, Los Angeles, Hollywood, Temasek, Paris