Accessories Amazon Asda Christmas Expansion & Franchise Fashion HR News High Street John Lewis London Marks & Spencer Media News Results Retail Retail and Consumer Industry Retail news Sainsbury's Store Tesco UK brand china consumer deal deals and rumours department department stores e-commerce electricals expansion fashion news food grocer group launch luxury morrisons my online online retail people profit property retail property retailer sale sales supermarket waitrose
Qatari royal family buys Valentino for €700m Thursday, 12th July 2012
Photo credit: Valentino campaign 2012
Iconic Italian fashion house Valentino has been acquired by the Qatari royal family for EUR 700 million.
With speculation of a Valentino deal rife over the weekend, it emerged on Thursday that Mayhoola for Investments SPC, an investment vehicle backed by a leading Qatari, had acquired the label from UK-based private equity fund Permira and Italian textile manufacturers the Marzotto Group.
The Qatari royal family, who also own Harrods department store in Knightsbridge, paid 31.5 times Valentino’s 2011 EBITDA, in a deal that will be seen by many as the luxury brand acquisition of the year.