News: Qatar’s Royal Family Buys Valentino

Mayhoola, an investment group controlled by Qatar’s royal family, purchased the Valentino label for an estimated $858 million, though that number is an estimate, according to WWD. What might their vision for the storied label be? Get more deeds inside:

“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.”

Mayhoola for Investments will purchase both Valentino and the licensing agreements for M Missoni from Permira, the London firm that currently owns both businesses."Valentino's CEO Stefano Sassi is equally optimistic. "Our new shareholder will help us to reach our full potential," he said.

Apparently the State of Qatar like the luxury sector. In recent years it’s invested in LVMH, Harrods, and Tiffany & Co.