A collection of black dresses by Valentino at the Museo Ara Pacis in Rome (Image courtesy Wikimedia Commons).
Italian fashion brand Valentino has been sold to Qatari royals - Mayhoola for Investments S.P.C. - for an undisclosed amount.
for Investments S.P.C., an investment company backed by a major private
investor group from Qatar, has acquired Valentino Fashion Group S.P.A. and they are looking forward to "exploit the full potential" of the brand and turn it into a "luxury goods powerhouse".
"Valentino has always been a brand of unique creativity and undisputed prestige," femalefirst.co.uk quoted a spokesperson of Mayhoola as saying.
vision is to back management for the long term to exploit the full potential of this exciting brand. We believe Valentino is ideally suited
to form the basis for a global luxury goods powerhouse," the spokesperson added.