Fashion Scoop

{news} What’s in Store for Valentino After Qatar Royals’ Purchase?

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Rumors had been swirling around for days, but on July 12 it was confirmed that Italian luxury label Valentino has been sold to the royal family of Qatar for an estimated $858 million.

“Valentino has always been a brand of unique creativity and undisputed prestige,” said a Mayhoola spokesperson in a release. “Our 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.”

Meanwhile, Valentino chief executive officer Stefano Sassi added the new investors will help the brand “reach its full potential.” We can’t wait to see how they can make Valentino look even more spectacular than what it already is!

{Source AFP/Images Via}

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