Valentino label sold for USD738 million!!


Luxury Italian fashion house Valentino is being sold to an unidentified sovereign wealth fund for USD738 million (approx. 7.5 billion AED)


The sale comes five years after Valentino was bought by London-based private equity firm, Permira, at the height of the credit bubble together with Hugo Boss, in a holding company called Red & Black.

The fashion house had a tumultuous five years but has once again become widely praised in fashion circles, winning acclaim for shows at Paris Haute Couture Weekand its ready-to-wear collections. It is a staple of the Oscars and is worn by stars Florence Welch, Alexa Chung and Keira Knightley.
The current deal, which will separate the Valentino brand from Hugo Boss, will see the design house sold to one of Permira's investors. The sovereign wealth fund has not been identified.

The company is thought to trade on a multiple similar to that of other luxury goods houses, which can sometimes be valued as high as 30 times earnings. 

However, Valentino has not always been so easy to manage for the London-based buy-out group. Bought in 2007, the investment soon faced problems, from the aftermath of its founder Valentino Garavani's departure to the sustainability of the billions of debt attached to the deal.

The chief executive, Stefano Sassi, brought in designers Maria Grazia Chiuri and Pier Paolo Piccioli, who together have rekindled a Valentino renaissance. Mr Sassi has also been working on pushing the brand into Asia.

Good luck Valentino ;)

You have read this article fashion fashion gossip / Hugo Boss / Italian fashion / Permira / Stefano Sassi / Valentino with the title Valentino label sold for USD738 million!!. You can bookmark this page URL https://lianabazar.blogspot.com/2012/07/valentino-label-sold-for-usd738-million.html. Thanks!

No comment for "Valentino label sold for USD738 million!!"

Post a Comment