The Qatari investors who backed Valentino and Anya Hindmarch have finalised a deal to buy high-end Italian menswear brand Pal Zileri under plans for global expansion.
Qatari fund Mayhoola, an investment vehicle thought to be linked with the Qatari Royal family, today announced that it had completed its purchase of 65% of Forall Confezioni, the company that owns the Pal Zileri brand.
Mayhoola has now appointed luxury fashion veteran Adriano Regondi to the company’s chairmanship. Regondi was responsible for growing Valentino after Mayhoola took over the brand in 2012 and is expected to do similar work for Pal Zileri.
The Quinto Vicentino-based Pal Zileri was founded in 1970 and was previously owned by a group of Italian entrepreneurs, including the Barizza, Bellet, Miola and Ghiringhelli families, along with the Egyptian Arafa Holding.
Arafa Holding will continue to hold 35% of the Forrall vehicle, which also holds licenses for Moschino and Cerruti 1881.
Pal Zileri’s UK retail director Geoffrey Klass said that both the wholesale and retail aspects of the business would expand in the UK and overseas as a result of the deal. A number of new units are expected in central London.
He said that the brand would be taken further upmarket by Regondi and his new management team, which begin in their roles tomorrow.