Fashion house Valentino confirms in takeover talks

Italian fashion house Valentino is in exclusive talks with a potential but unnamed buyer, the company said, with Qatar's royal family believed to be interested.


Valentino's autumn-winter 2012/2013 haute couture show in Paris

"Valentino has seen increasing interest from a number of potential buyers," said Stefano Sassi, chief executive of Valentino Fashion Group and the Valentino fashion house, in a statement obtained by AFP on Monday.

He added: "An exclusivity has been granted to one of the potential buyers, who expressed interest in the long term potential of the brand, and it is expected to expire in July."

British media had reported Sunday that Qatar's royal family was in advanced talks to buy the fashion label from its current owner, private equity firm Permira, for some £550-600 million (700-755 million euros, $850-930 million).

Copyright © 2014 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.