Valentino Sold To Qatari Royal Family

  • --
Share on FacebookTweet ThisPin ItEmail this to a Friend
After rumors that Valentino was to be sold later this week, the luxury fashion brand has found a new owner.

The brand was sold for an undisclosed sum, but according to in-the-know sources, it sold to the Qatari Royal family for $857.5 million.

All that Valentino would say is that the brand was acquired by a major private investor group from Qatar (hence the Qatari Royal Family rumors) called Mayhoola for Investments S.P.C.

The new company acquired Valentino and the M Missoni license and released this statement.

“Our vision is to back management for the long term to exploit the full potential of this exciting brand. We believe Valentino is ideally suited to form the basis for a global luxury goods powerhouse,” says a spokesperson for Mayhoola.

“Valentino has always been a brand of unique creativity and undisputed prestige,” they add.

Valentino has had a huge upsurge in profits in the last three years. The company saw a 60 percent increase in revenue and hopes that the backing of the new company will help them bring in even more money.

“During the past few years, despite swings in the luxury markets, the company has operated with great intensity and remained focused on maximizing the potential of the Valentino brand,” says Stefano Sassi, Valentino CEO, “Our new shareholder will help us to reach our full potential.”

Although Valentino refused to disclose a price or the new investor, like all things, the truth gets out. Rumors that the Qatari’s bought up the brand make sense with their image, “iconic, quality brands, with a long-term value and an appealing customer base,” an analyst at Roubini Global Economics told Reuters.

The Qatari’s also own assets ranging from stakes Porsche to Harrods department store.
Share on FacebookTweet ThisPin ItEmail this to a Friend