Italian designer Valentino’s owner is in advanced talks with the Qatari royal family to sell the luxury brand for about €550m, according to reports.
Private equity firm Permira bought Valentino Fashion Group in 2007 for about €2.6bn as part of a deal that included Hugo Boss and M Missoni. People close to the situation told Sky that if Valentino was bought by Qatar’s royal family then it will also acquire the M Missoni brand. It is not thought that the deal will include Hugo Boss.
Sky News said the combined group, held by an entity called Red & Black, has had a tough time during the economic downturn.
The Qatari family took over Harrods for €1.5bn in 2010.