Qatari Investment Fund Could Be Interested in Versace
Qatar has used its wealth from oil and natural-gas exports to buy all kinds of assets in safe-haven countries. The investment strategy by the nation’s sovereign-wealth fund includes London luxury store Harrods, luxury hotels in France or luxury brands & real estate.
A Qatari investment fund is looking to buy a stake in the Italian luxury fashion house Versace, according to Italy’s daily Il Messaggero. Mayhoola for Investments, an investment organization backed by a major private investor group from Qatar, plans to become a financial partner in Versace house.
For Mayhoola it will be the second major investment in luxury fashion industry this year. In July, Mayhoola bought luxury fashion house Valentino, “a personal project for the Qatar royal family”.
This year the Qatar Investment Authority had amassed over a 1% stake in French luxury-goods conglomerate LVMH Moet Hennessy Louis Vuitton.