Qatari royal family buys out Valentino for 700 million euros, which is $857.5 million dollars. One of the biggest and newest purchases a top European luxury brand by an investor. Valentino has worked with many celebrities and has 700 boutiques and almost 100 operations going on!
A representative for Mayhoola (who controls Qatar) said in a statement: “Valentino is ideally suited to form the basis for a global luxury goods powerhouse.”
Chief executive officer Stefano Sassi says the new investors will help the brand “reach its full potential.”Qatar Group is not just picking up Valentino, but is said they will be picking up M Missoni also. The Misses behind Qatar Group ,Sheikha Mozah bint Nasser Al Missnes, came up with the idea of picking up Valentino. Qatar Luxury Group is considered to be one of the world’s biggest collectors of couture. Last Year Qatar Foundation invested in Le Tanneur.
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