The Qatar Royal family's investment group (Mayhoola) officially confirms buying fashion house Valentino, after a week of speculations and rumors. The Italian fashion house was bought for an estimated $858 million. The investment group also purchased the M Missoni line. These two luxury brands add to the growing portfolio of the Qatar investment group that already includes investments in Harrods, LVMH, and Tiffany & Co.
“Valentino has always been a brand of unique creativity and undisputed prestige,” a Mayhoola spokesperson said in a release. “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.” Valentino’s CEO Stefano Sassi said that the new investors will help the brand “reach its full potential.”
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