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.
@zacposen's go-to holiday gift? Cookies! "I'll usually bake cookies and send them as a gift," said the designer, who recently released his cookbook "Cooking With Zac: Recipes from Rustic to Refined." Get the recipe for his Brown Butter-Chocolate Chip Cookies via link in bio 🍪🍪🍪 #wwdeye #cookingwithzac
For @monsemaison’s pre-fall 2018 collection, Fernando Garcia and Laura Kim honed in on the brand’s many signatures — men’s wear, which was tweaked and feminized through deconstruction, proportion play and lots of bare shoulders. See the rest of the photos on WWD.com #wwdfashion (📷: George Chinese)
On Friday night, @yohjiyamamotoofficial received the Design for Asia Lifetime Achievement Award in Hong Kong. The 75-year-old designer has been celebrated for many years and is best known for his dark and avant-garde tailoring. “In my long career, in design, architecture, [I’ve been to] so many parties, this is the very first time that I have such a warm feeling, I really appreciate this,” Yamamoto said. #wwdfashion (📷: @dominiquemaitre)
Discovery is collaborating with British pop artist @philipcolbert on a new line of clothing and accessories called Discovery Shark. The collection, which will launch next summer for Shark Week’s 30th anniversary, features a whimsical line of women’s and men’s bomber jackets, sweatshirts, bags and more. #wwdfashion
“I’m always a big champion of a female rapper, and I’m glad to see a new voice that feels unique and authentic that’s coming up, and I think we’re going to see more great things from her,” said @itsjeremyscott about @iamcardib, who performed at @moschino’s Art Basel Miami Beach party last night. #wwdeye (📷: @lexieblacklock)
@janellemonae’s “What’s Your Frequency?” room in @refinery29's #29Rooms made its debut this week at the opening of the Los Angeles art exhibit. “It’s about the ongoing conversation around mass surveillance, the weaponization of technology and cultural uniformity. My space was created so that we can come together and talk about the complexities of our humanity,” said Monáe. #wwdeye (📷: @bucknerphoto)
@pantone announced their Color of the Year 2018: Ultra Violet. Nearly 20 months after the musician Prince’s death, fashion is having a purple moment. Varying shades of purple appeared on spring or fall runways, from @christopherkane to @calvinklein. @gucci’s Alessandro Michele bathed his fall runway in ultra violet-colored light at one point. Pantone 18-3838 is meant to “push the boundaries of what inspires us to look upward and outward to the future.” #wwdnews #wwdfashion (📷: @kukukuba)