Model on the catwalk

SAINT LAURENT’S TUSCAN HUB: Kering is said to be negotiating the lease of a building in Scandicci, outside Florence, for its Saint Laurent brand, according to a note issued by the Italian town’s municipality.

CDP Investimenti, which is part of the Cassa Depositi e Prestiti, a financial company controlled by the Italian Ministry of Economy and Finance, has initiated exclusive negotiations with the French luxury group to lease the Palazzo delle Finanze in Scandicci. The cement, three-story building dates back to the 1991-to-1994 period and covers almost 310,000 square feet. It was meant to house the Center of the Ministry of Finance, but it has never been fully finished or used.

Kering had no comment on Friday.

According to the note, a change of destination of the building has been approved, and it can be recovered and destined to production activities.

Local media speculate that Compagnie Financière Richemont was also eyeing the building and the note, without naming the group, said CDP had received another offer by a company “operating in the luxury sector at an international level.”

Mayor Sandro Fallani said the goal is to “save a neglected [location] and to transform it in a unique development opportunity that would bring employment, excellence and a competitive system for our territory.”

Last year, Gucci, also controlled by Kering, inaugurated ArtLab, a sprawling, state-of-the-art industrial complex, in Scandicci, one of Italy’s main leather goods manufacturing hubs.