It’s official, Valentino has finally been sold.

It was swirling around in the news for a long time to come but the day has finally come and passed when the house of Valentino would sell to a large group. However in this case the historic company was sold to the Qatar Foundation where the house will sit alongside M Missoni which was picked up by the foundation last year.

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.

Mayhoola, an investment group controlled by Qatar’s royal family, explained its vision for the fashion house — which was founded in 1959 by namesake Valentino Garavani and is famed for its ultra feminine frocks.

“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.”

Many people have mixed feelings about the purchase. They are sad that the company is leaving Milan but happy for the designer and the Valentino label and its future endeavours. The trepidations feeling of change looms in the air and is hopefully as smooth as can be for the house.

The recent haute couture show was darker than normal while maintaining its light femininity and grace. More sheer fabrics were used and to offset the airy feeling was the weight of navy velvets and black silks.

 

 

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