Was Valentino Sold To The Royal Family Of Qatar?
WWD reports that a finalized sale of Valentino by private equity group Permira to an unnamed “single party…could be just weeks away,” however other news outlets are telling a slightly different story.
London’s Telegraph asserts that the sale of the luxury brand is a done deal, to the tune of €600 million, or about $737.5 million at current exchange. (And you thought that studded tote you’ve been coveting was a pricey buy!) Sky News claims an exclusive scoop on the identity of the alleged buyers: the royal family of Qatar, who also own London’s iconic department store Harrod’s and a host of other “trophy assets.”
A rep from Valentino neglected to comment on the latter report to WWD, however chief executive officer Stefano Sassi offered some words on the brand’s value to buyers:
“As previously stated, Valentino has seen increasing interest from a number of potential buyers. 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.”
Great attention, yes, but apparently a bit of confusion as well.