Mayhoola for Investments

Mayhoola increases Pal Zileri stake to 100% and changes management

There are changes in Pal Zileri's shareholding and top management, including a new CEO announced for next September. The fashion label is the main brand of Italian menswear manufacturer Forall Confezioni, owned since April 2014 by the Mayhoola Group, the Qatari royal family's investment fund. In a brief statement, the group has thanked "for their valuable contribution" the current CEO Paolo Roviera, who was appointed in June 2014 and tasked with relaunching Pal Zileri, and Stefano Gaudioso Tramonte, hired at the same time as the label's General Merchandising Manager. This strategic overhaul coincides with the the Mayhoola Group's announcement that its stake in Forall Confezioni has risen to 100%. The Qatari investment fund became the Italian company's majority shareholder in 2014, with a 65% interest, alongside Egyptian group Arafa Holding, who owned the remaining capital. The value of the transaction was not revealed. Mayhoola Group has simply stated that this new step confirms its involvement with Pal Zileri, and highlights its willingness to lead the brand "to a new stage of expansion and global growth, with a long-term strategic vision."

Italy · 27 Jul 2016

Valentino’s Qatari Owners Acquire Balmain

PARIS, France — Mayhoola for Investments, an investment fund backed by the emir of Qatar, acquired French fashion house Balmain, adding a brand favoured by Kim Kardashian to a roster of labels that includes Italy’s Valentino. Financial terms were not disclosed, though a person familiar with the matter said Mayhoola agreed to pay close to €500 million ($563 million). The acquisition of 100 percent of Balmain from shareholders including France’s Hivelin family will allow the brand to accelerate its development by opening new stores around the world, advisers Bucephale Finance said in a statement late Tuesday. Balmain has become one of the most talked about fashion brands under creative director Olivier Rousteing, whose Instagram account is peppered with images of reality-television star Kardashian and her family wearing his military-inspired designs. The fashion house, founded by Pierre Balmain in 1945 and revived in 1995 by Alain Hivelin, has enjoyed strong growth since Rousteing joined in 2011, according to the statement. Mayhoola, which describes itself as a Qatari company focused on local and global investments, also owns Valentino, which is considering selling shares in an initial public offering as early as next year after nearly doubling profit on revenue of more than $1 billion in 2015. Mayhoola did not immediately respond to a request for comment. The acquisition of Balmain is the second fashion deal this week by Middle Eastern investors after Bahrain investment house Investcorp Bank BSC purchased 55 percent of Italian luxury menswear maker Corneliani SpA. The transactions come as demand for luxury goods cools, with consultants Bain & Co. estimating global sales will expand at best 2 percent this year, the second-weakest rate since 2009.

France · 21 Jun 2016

Qatari Group to Acquire Valentino for $850 Million

LONDON – The private equity firm Permira agreed on Thursday to sell the luxury fashion company Valentino Fashion Group to Mayhoola for Investments, a Qatari investment group. The Qatari firm will spend around 700 million euros ($856 million) on the Italian fashion label, according to industry sources who spoke on the condition of anonymity because the negotiations were private. A Permira spokesman declined to comment. Permira, which acquired the Valentino brand as part of its takeover of the German luxury fashion company Hugo Boss in 2007, is expected to use the proceeds of the sale to pay down debt in Hugo Boss. As part of the deal, the private equity firm will retain the fashion brand MCS Marlboro Classics. The European economy has struggled because of the debt crisis, but many of the Continent’s luxury brands have continued to expand, particularly in emerging markets, and have become takeover targets for foreign buyers. Valentino reported a 23 percent increase in revenue for the first half of the year, compared with the period a year earlier, according to a company statement. Not every luxury brand has been able to cash in on expanding demand from emerging markets. In May, Graff Diamonds, a high-end British retailer of precious gems whose average sale last year was more than $100,000, said it had pulled its $1 billion initial public offering in Hong Kong because of market volatility. Perella Weinberg Partners and the law firm Chiomenti advised Mayhoola on the deal, while Mediobanca, UniCredit and the law firms Bonelli Erede Pappalardo and Freshfields Bruckhaus Deringer advised Permira.

Italy · 11 Jul 2012