CONFIRMED: Valentino Sold To Qatar’s Royal Family
Earlier this week, there was some confusion as to whether or not Valentino had been purchased by the royal family of Qatar. Now it’s been confirmed.
Technically, Valentino was sold to privately owned group Mayhoola for Investments, but according to WWD, Mayhoola is controlled by Qatar’s blueblooded crew.
Per the sale, Mayhoola will gain the Valentino SpA and M Missoni licenses. The price of the sale hasn’t been released, but sources estimate the purchase at approximately $858 million.
Valentino CEO Stefano Sassi sasidin a statement:
“Our new shareholder will help us to reach our full potential. I would like to take this opportunity to thank the Permira Funds and the Marzotto family for their industrial vision and the support that they have provided to management in implementing the first steps of our long term plan. 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.”
[WWD]
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