It seems that Qatar are looking around to acquire a bit more luxury for their portfolio.
The Qatari royal family (through Mayhoola for Investments S.P.C fund) snapped up Valentino for $US857.5 million last year. It was also in 2011 that Qatar’s sovereign wealth fund acquired a 5.2 per cent stake in Tiffany & Co, but it doesn’t stop there…. They also bought a 1 per cent stake in Louis Vuitton and their assets include London luxury department store Harrods and a number of luxury hotels in France.
Marketwatch is reporting that a Qatari investment fund is looking to buy a stake in Versace.
Mayhoola, an investment vehicle backed by a major private investor group from Qatar, has recently met with representatives from the Italian government and the Italian corporate world to discuss the deal, Italy’s deal II Messaggero said.
The prospective deal would be to become a financial partner in the fashion firm. It has also been revealed that Versace is looking to go public in three years time.
No doubt that they watched the Prada IPO very closely for some pointers….
By Cassandra Murnieks
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