The Mayhoola Group (hereinafter referred to as Mayhoola), the Qatar royal investment agency, fully controls the Italian premium menswear brand Pal Zileri. According to reports, Mayhoola has acquired a 100% stake in Pal Zileri's parent company, Forall Confezioni SpA. The financial details of the transaction were not disclosed.
After the transaction is completed, the brand CEO Paolo Roviera and purchasing general manager Stefano Gaudioso Tramonte will withdraw from the company. Mayhoola said it will appoint a new brand CEO in September.
In 2014, Mayhoola acquired a 65% stake in Pal Zileri and the remaining 35% was held by Egyptian garment manufacturer Arafa Holding.
In recent years, Qatar investors have set off a series of acquisition booms in Europe, expanding their portfolios in fashion, retail and real estate. Last month, Mayhoola announced the acquisition of a majority stake in French luxury brand Pierre Balmain. In addition, Mayhoola is the controlling shareholder of Italian luxury brand Valentino and owns a stake in British designer brand Anya Hindmarch.
Valentino is also coming soon?
Valentino's major shareholder, Qatar royal investment agency acquired French luxury brand Pierre Balmain, with a transaction volume of nearly 500 million euros
Why is it that the Middle East gold lord is the biggest backing for the luxury goods industry in the future?
In 1970, in the town of Quinto Vicentino in the province of Vicenza, Italy, local entrepreneurs Gianfranco Barizza and Aronne Miola co-founded the Forall Group;
Forall collaborates with brands such as Luciano Soprani, Verri, Antonio Fusco, Krizia, Trussardi and Moschino to produce and distribute men's products for them. In the 1980s, in order to enhance the company's popularity, the luxury men's wear brand Pal Zileri was launched.
In the 1990s, the company further expanded its scale to develop Pal Zileri into an Italian classic haute couture brand. Pal Zileri's selection of rare fabrics such as cashmere, guanaco and vicuna are made by Italian craftsmen at the brand's production base, one of which is located in Quinto Vicentino, where the brand's headquarters are located. Currently, the brand is sold in more than 70 countries in Europe, America and Asia, including 32 flagship stores and 500 multi-brand stores.
The brand's current creative director, Mauro Ravizza Krueger, has worked for fashion companies such as Caruso, Loro Piana, Herno and Luciano Barbera, and joined Pal Zileri in January 2015, injecting fresh blood into the brand.
The current CEO, Paolo Roviera, was a senior executive of the Italian luxury goods group Ermenegildo Zegna. After joining Pal Zileri, he introduced a new management structure that changed the brand's past family business model. Roviera's goal at the time of his job was to double the market share of the brand within five years and reposition the distribution channel. Pal Zileri's global sales of 80 million euros in 2015 will give priority to the US market in the future.
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