Skip to content Skip to Search
Skip navigation

Valentino’s Qatari owner to sell 30% stake for $1.9bn

Valentino operates 211 stores globally and generated revenues of €1.4bn in 2022 Valentino
Valentino operates 211 stores globally and generated revenues of €1.4bn in 2022

The Qatari owner of Italian fashion brand Valentino is to sell a 30 percent stake to the French luxury group behind rival brands such as Gucci, Balenciaga and Alexander McQueen, it was announced on Thursday.

Paris-based Kering announced it will pay Mayhoola Lux Sàrl (Mayhoola), a Qatari investment company controlled by the mother of the Emir of Qatar, €1.7 billion ($1.87 billion) in cash for a minority stake in Valentino.

Mayhoola will retain a 70 percent stake, but the agreement gives Kering the option to acquire 100 percent of Valentino by 2028.

The deal is part of a broader strategic partnership, which may also lead to Mayhoola becoming a shareholder in Kering, the statement said.

The transaction is expected to close by the end of 2023, subject to regulatory clearance.

Founded in 1960 in Rome, Valentino runs 211 stores globally and generated revenues of €1.4 billion and Ebitda of €350 million in 2022.

Mayhoola is an investment entity directly controlled by Qatari Mayhoola for Investments and led by Sheikha Moza bint Nasser al-Missned, the wife of Sheikh Hamad bin Khalifa Al Thani, the former Emir of Qatar who abdicated in 2013 in favour of his son.

Mayhoola’s luxury portfolio extends beyond Valentino and includes France’s Balmain and Italy’s Pal Zileri, as well as Turkish department store chain Beymen.

Kering’s most famous asset is Gucci, but its portfolio also includes brands such as Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, and Ginori. Kering has a global workforce of 47,000 employees and last year generated revenue of €20.4 billion.

Sales in the first quarter of this year increased 1 percent, as revenues fell in the US. Kering’s main rivals are Louis Vuitton owner LVMH and Birkin bag maker Hermes, which reported sales increases of 17 percent and 23 percent, respectively, across the same period.

“Kering’s performance in the first quarter remained mixed,” chairman and CEO François-Henri Pinault said in a statement in April.

Latest articles

Machine, Architecture, Building

Arabian Mills gets nod to sell 30% stake on Saudi bourse 

Arabian Mills for Food Products will list 15.4 million shares, or a 30 percent stake, on the Saudi stock exchange, the kingdom’s market regulator has said. The Capital Markets Authority (CMA) approved the company’s public floatation application on Monday, adding that the prospectus will be published before the subscription start date. No other details of […]

Properties overlooking the bay in Muscat. Property prices in the capital fell more than 5 percent

Oman’s real estate sector continues to slide

Apartment prices in Oman dropped more than 17 percent in the first quarter of 2024, while villa prices rose a meagre 0.8 percent, according to the latest government figures. Residential real estate prices were down across the board quarter on quarter, including those for land. The Musandam region recorded the largest overall decline at 15.7 […]

Shoppers choose vegetables in Istanbul; inflation means people are spending on essentials

Turkish retailers’ confidence wavers as inflation bites

Confidence is falling among Turkish retailers, according to a survey from the country’s statistics agency Turkstat. Shoppers have been scaling back on big-ticket purchases, spending instead on basic consumer goods as inflation piles pressure on household incomes. May’s business confidence report, released by Turkstat on June 24, showed sentiment in the retail sector at its […]

Water is handed out to pilgrims in Mecca. Hundreds of pilgrims without a Hajj permit died during extreme heat last week

Egypt shuts down 16 travel companies after Hajj tragedy

Egypt has withdrawn the operating licences of 16 travel companies for organising unlicensed Hajj trips to Saudi Arabia. A statement from the Egyptian government said the companies would be prosecuted and fined, with the funds used to compensate pilgrims’ families for their loss.  Hundreds of Egyptians were among 1,301 people who died of exposure to […]