Pierpaolo Piccioli_Maria Grazia Chiuri - Creative Directors VALENTINO
13 Jul. 2012
VALENTINO BOUGHT BY QATAR INVESTORMayhoola for Investments S.P.C. (Mayhoola), owned by a premium investor from Qatar, has acquired the Valentino Fashion Group (VFG) S.p.A. The purchase contract between Mayhoola and Red & Black Lux S.à.r.l. (Red & Black), the company bought by Fondo Permira together with the Marzotto family, was signed on July 11.
Through the purchase of VFG, Mayhoola has taken over the control of Valentino S.p.A. (Valentino) as well as the license for M Missoni. MCS – Marlboro Classics, the other brand managed by VFG, was not included in the agreement and will continue to belong to Red & Black. Red & Black also continues to own a majority of Hugo Boss that was not involved in the transaction. The Permira fund and Marzotto family acquired the control of VFG in 2007 as part of a wider transaction that included a majority quota of Hugo Boss.
A spokesperson at Mayhoola commented, “Valentino is a highly fascinating brand of under-discussed positioning. We were struck by the great work carried out by creative directors Maria Grazia Chiuri and Pierpaolo Piccioli and by the whole team managed by Stefano Sassi. Our objective is to support the management with the aim of giving full worth to the perspectives of this magnificent brand and belief that Valentino is the ideal starting basis for creating a wider presence in the luxury sector.”
Valentino’s CEO Stefano Sassi added, “We are satisfied with this operation. Our work brought the brand to a sensible 60% increase in turnovers between 2009 and 2012. Valentino’s present positive evolution will speed up with this new shareholder’s contribution.” The brand closed the first six months of 2012 with a 23% increase in turnover compared with the first semester of 2011.
Maria Cristina Pavarini
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