One of Hollywood’s most prestigious talent agencies may soon be sporting a beret.

According to Bloomberg News, the CAA group is seriously considering selling a majority stake to François-Henri Pinault, a principal in the Kering fashion and luxury empire. CAA, which was founded in 1975 by a group of William Morris agents, represents many thousands of actors, directors, musicians, and other figures in the entertainment industry, including athletes. In 2021, CAA announced a deal to buy one of its rivals, ICM Partners.

Sources have told Bloomberg that the proposed deal would value the agency at $7 billion. The private-equity firm TPG first invested in CAA back in 2010 and increased its stake to 53% in 2014. At that time, CAA was valued at a mere $1.1 billion. All the parties to the talks have declined comment thus far.

According to published reports, Pinault’s investment entity Artemis is involved in the negotiations. If Artemis acquires CAA it would be another of its recent inroads into the film and entertainment sphere. Kering is now a major sponsor of the Cannes Film Festival, spearheading a Women in Motion program to advance the interests of female actors, filmmakers, and producers. At Cannes this year, a Kering award was given to Michelle Yeoh for her groundbreaking work in Everything Everywhere All at Once.

Pinault’s wife, Salma Hayek Pinault, is a noted actor, filmmaker, and women’s activist. The Mexican-born star won a Best Actress Oscar nomination two decades ago for her role as Frida Kahlo in a film she also produced.

Also at Cannes this year, one of Kering’s fashion brands, Saint Laurent, launched a film-production entity that’s helmed by artistic director Anthony Vaccarello. Its first offering was the Pedro Almodóvar film Strange Way of Life, which stars Ethan Hawke and Pedro Pascal. Other luxury brands owned by Kering include Gucci, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, and Kering Eyewear.

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