Related
Qataris to spring for Printemps 
Italy’s Missoni dies aged 92 
Italy police seize assets from luxury goods firm… 
Lamborghini: from nought to 50 
Family of missing Italian fashion house boss remain… Qatar’s royal family has bought the iconic Italian fashion house Valentino.
The sellers are the London-based private equity fund Permira and Italian textile entrepreneurs Marzotto – the price is reportedly seven hundred million euros.
Valentino is the latest Italian luxury brand to be bought by a foreign investor. It is a sign of the resilience of the sector even as Italy sinks into recession.
Founded by designer Valentino Garavani, the Italian high-end fashion brand acquired global fame thanks to its trademark bright-red chiffon dresses, loved by princesses and Hollywood stars alike.
The Qataris, who also own the post London department store Harrods, have been among the world’s most active investors. Their assets include stakes in German sports car maker Porsche and British bank Barclays.
More about: Fashion, Italy, Luxury, QatarCopyright © 2013 euronews
JavaScript is required in order to view this article’s accompanying video
Top Stories
Syria army ‘in centre’ of Qusair amid assault on rebel town
Syrian government forces have launched a major offensive to retake the strategically important rebel stronghold of Qusair, near Lebanon. Syrian officials say the army have taken control of key points in the the city…
Salafists clash with police in Tunisia after rally is banned
Police have clashed with hardline Islamists in Tunisia after the government banned their annual…
Chinese PM Li Keqiang in India to boost trade and ease…
China's new prime minister is making his first trip abroad since taking office in March, arriving…
Corporate news
Dell’s profit dives as takeover battle rages- Google denies misleading over tax
- Airbus profits rise, ‘confident’ on A350
- H&M backs clothing factory safety plan
- Virus fears hit airline shares
- Anglo American shares hit by new job cuts plan
- ArcelorMittal confident for 2013 earnings
- Sony returns to profit
- Nokia heads for bargain basement to shore up Indian market
- Toyota exceeds expectations and doubles its profits
