Valentino SOLD

Valentino sold to Qatar royal family for £556 million

Following speculative reports that Valentino had been purchased by the Qatar royal family for £476m, it has now been confirmed - although the price tag was in fact considerably higher. Mayhoola for Investments, which is understood to be controlled by the Qatar royal family, reportedly paid $858 million (£556 million) to Red & Black Lux Sarl, a company indirectly controlled by the Permira Funds in partnership with the Marzotto family, to acquire the Valentino Fashion Group, which includes Valentino SpA as well as the M Missoni license business.

"Valentino has always been a brand of unique creativity and undisputed prestige. Their ability to blend the aesthetic values of the founder, Valentino Garavani, with a contemporary and sophisticated vision, has been instrumental in enhancing the brand's relevance and establishing a platform with significant future potential," said a spokesman for Mayhoola told WWD . "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."