Report: Valentino To Be Sold For $852 Million

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Report: Valentino To Be Sold For $852 Million
Valentino had a really good year last year, as far as cash money is confirmed, so now the fashion house is going on the chopping block and is rumored to be going for about $852 million.

The house is in talks with one prospective buyer, who remains unnamed.

The Italian fashion house was purchased in 2007 by a London-based private equity firm, Permira, for $6.5 billion and since then had a tumultuous five years but has once again been praised in fashion circles. Additionally, the brands profits increased by 18% in 2011.

“Valentino has seen increasing interest from a number of potential buyers,” Stefano Sassi CEO of Valentino told Women’s Wear Daily, “The outstanding work and stylistic vision of creative directors Maria Grazia Chiuri and Pier Paolo Piccioli and the constant growth of [the] company’s results have generated great attention towards the brand.”

Right now, the rumor is that the buyer is the royal family of Qatar (who also own London’s Harrods department store), but Valentino wouldn’t confirm this to WWD. If this sale is indeed to the Qataris, it will be their first acquisition of a top fashion house. They want to buy the brand because the Qatar first wife apparently loves Valentino dresses.

There were also some rumors that fashion magnate Puig was also interested in buying, but those rumors fizzled out.

The exclusive deal is set to expire at the end of July, so either this buying rumor will pass or Valentino will sell for $852 million by the end of the month.

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