Home FashionChatter   Valentino Sold to Qatar Investment Firm for $858M
article by
Fashion Editor | JustLuxe.com

Valentino Sold to Qatar Investment Firm for $858M

Jul. 16th, 2012 | Comments 2 | Make a Comment   
Photo Courtesy of Valentino
In recent fashion news, Mayhoola for Investments, a Qatari investment firm backed by a private investor group from the Middle Eastern monarchy, disclosed Thursday that it agreed to acquire Valentino Fashion Group SpA. The luxury designer brand had apparently been in trouble for some time. In 2007, Permira bought VFG with some members of the Marzotto family through Red & Black for about $3.55 billion. Mayhoola apparently closed the deal for 700 million euros, or about $858 million at current exchange rates. Valentino did not disclose the name of the investor behind Mayhoola, but it is understood that Mayhoola is controlled by the royal family of Qatar. Though the brand’s shareholders will take control of not only the brand, but also of the projects behind it, Stefano Sassi, Valentino’s chief executive officer, will remain at the helm of the company, along with the brand’s creative directors, Maria Grazia Chiuri and PIerpaolo Piccioli.
You might like : Emerging Wealth Fuels Foreign Acquisition of European Luxury Brands
related articles
around the web
Write a Story/Review about Luxury Fashion Brands

Post a Comment

2 Comments on this Article

CoLoR349 commented on July 22, 2012

Almost $1 Billion dollars for the Valentino brand......WOW!

Reply    Report this Comment

anny commented on July 18, 2012

Wow !! what a passionate look ..

Reply    Report this Comment