Oil dollars boost fashion business
Last summer, Qatar’s royal family bought Valentino from private equity
firm Permira for 700 million euro through their investment group
Mayhoola.
The company generates forty percent of its turnover in China, where – so
far – the economic slowdown in the country has not yet affected the
sales. “People in China want exclusivity, high-end products, so we are
benefiting from that”, says chief executive Stefano Sassi.
In the first nine months of 2012, Valentino was able to increase its
turnover by 26%, compared to the same period in 2011. In September, the
year-on-year increase even rose to 33%.
