MILAN — Qatari investors continue to actively build their fashion, retail and real estate portfolios in Europe and they have zoomed in on their first men’s wear-only Italian luxury brand.
Mayhoola for Investments, an investment vehicle backed by a private investor group from Qatar, has acquired a majority stake in Forall Confezioni SpA, which produces Pal Zileri and also holds licenses for Moschino and Cerruti 1881.
Founded in 1970, the Quinto Vicentino-based Pal Zileri was previously owned by a group of Italian entrepreneurs, including the Barizza, Bellet, Miola and Ghiringhelli families, along with the Egyptian Arafa Holding. Mayhoola took control of 65 percent of the company from the Italian investors. Arafa Holding will continue to hold 35 percent of the firm. Financial details of the transaction were not disclosed.
Speculation about a potential deal emerged in November. A market source said the deep-pocketed Qatari investors, who are said to have a long-term and ambitious vision for the brand, will help “further push the development of Pal Zileri globally.”
In the Eighties, Forall collaborated with Luciano Soprani, Verri, Antonio Fusco, Krizia, Trussardi and Moschino to produce and distribute their men’s lines. The company went on to expand in the Nineties and developed Pal Zileri into a classic, highly crafted brand that employs top fabrics ranging from cashmere and guanaco to vicuna and is available in more than 70 countries. The brand has evolved to include a bespoke collection, a younger Lab line, a more informal line called Concept and accessories and fragrances.
Forall closed 2013 with sales of 140 million euros, or $184.8 million at current exchange. Italy accounted for about 25 percent of total revenues.
There are two production units, in Quinto Vicentino and Sarcedo a Vicenza, and the company has more than 850 employees.
It is understood Mayhoola is controlled by Qatar’s royal family. The fund bought the Valentino fashion house in July 2012 and is a minority shareholder in the Anya Hindmarch accessories brand.
In the summer, Qatari investors via Luxembourg-based investment fund Divine Investments SA, or Disa, acquired French department store chain Printemps.
The Qatar Investment Authority has stakes in LVMH Moët Hennessy Louis Vuitton and Tiffany & Co., and bought real estate in Paris, including an historic building on the Place Vendôme. Qatar Holding LLC owns Harrods in London as well as a stake in British food retailer J. Sainsbury plc.
In April, Emir Sheikh Hamad bin Khalifa Al-Thani bought the Four Seasons hotel in Florence from brothers Marcello and Corrado Fratini. Qatar also owns four luxury hotels in Sardinia’s luxury Costa Smeralda beach resort area.
In November 2012, Qatar Holding LLC, a global investment firm founded by the Qatar Investment Authority in 2006, signed an agreement with Italy’s Fondo Strategico Italiano, the holding controlled by Cassa Depositi e Prestiti, or CDP, a joint-stock company under public control, to create a venture, IQ Made in Italy, with the goal to invest in Italian brands. The fund leverages total capital of 2 billion euros, or $2.72 billion at current exchange rates.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)