The Qatari investment fund behind Valentino and Anya Hindmarch has acquired a 100% stake in high-end Italian menswear brand Pal Zileri.
Mayhoola Group, which is thought to have close links to the Qatari royal family, first took a 65% stake in Pal Zileri’s parent company Forall Confezioni in 2014 and has now announced that it has bought out Arafa Holding to take full ownership.
Current Pal Zileri CEO Paolo Roviera is leaving the company to join Corneliani and an announcement about his replacement will be made in September.
Mayhoola says it is “actively building” its European fashion portfolio after buying Balmain in a £372m deal last month.
Quinto Vicentino-based Pal Zileri is planning wholesale and retail expansion in the UK and overseas as a result of the deal.