The indiscretion is, in a nutshell, this. Valentino isn’t actually for sale. But it remains a perfect brand for French luxury giants, which is why several investment banks have come to imagine cases of mergers or acquisitions. Colliding with a wall: Mayhoola is asking at least 4 billion euros. The Emirate fund, which consecrated Valentino in the One Billion Club, can shoot high because it doesn’t need to sell. Indeed, it is in a position to buy again.
Mayhoola is asking for at least 4 billion euros
To report the backstage, is Andrea Montanari of Milano Finanza. Who also highlights what may seem like a paradox. Mayhoola For Investments has no urgency to sell, we said. The fund bought Valentino in 2012 for 710 million euros. The figure seemed out of proportion for a brand that in 2011 had a turnover of just over 320 million euros. 2018 financial statemnt, the latest available, says that Valento’s turnover reached 1.19 billion euros. For Mayhoola, a bet won.
The group obsession
In addition to Valentino, Mayhoola also acquired Balmain. In recent times, says MF, signals have arrived from the fund demonstrating a double interest: not only to remain a partner of Valentino, but to enrich its portfolio with “sustainable, growing and successful luxury brands”. Rather than give in, who knows, maybe Mayhoola is the one who will made very important acquisitions.