"Toto, I don't think we're on via Condotti anymore..." Arguably one of Italy's most iconic maisons, Valentino has been sold. The buyer: Mayhoola for Investments, a private investor group from Qatar.
Through the acquisition, Mayhoola has purchased 100 percent of Valentino Fashion Group, which includes the M Missoni license business. WWD reports that Mayhoola is controlled by Qatar's royal family - a dynasty befitting fashions whose prices often require a princely sum.
Valentino CEO Stefano Sassi told WWD the brand’s shareholders were impressed by the buyers’ “level of ambition and strong desire to further develop the label. They took control not only of the brand, but also of the projects behind it.”
Sassi will remain in his role as well as Creative Directors Maria Grazia Chiuri and Pierpaolo Piccioli.
See the Valentino Fall Couture show HERE
Step inside Valentino's Milan boutique
Valentino - going, going, SOLD for $858 million
by Alessia Domanico
Writer13 July 2012