Qatar’s royal family is buying storied Italian fashion house Valentino. Sources close to the matter have suggested a figure close to about 600 to 700 million euros. Valentino is among the latest purchase of a top European luxury brand by an emerging market investor.
Though the Valentino did not disclose financial details of the sale or name the investor but sources close to the deal have indicated that the deal which was worth 600 to 700 million euros, is over 31.5 times its 2011 EBITDA.
Analysts said the Qatari royal family, which also owns London’s Harrods department store, appeared to be building a home grown luxury brand with this latest purchase.
Founded in 1960 by designer Valentino Garavani, the Italian brand acquired global fame thanks to its trademark bright-red chiffon dresses, loved by princesses and Hollywood stars alike.