Qatari royals acquire Valentino

Italian fashion house Valentino has been snapped up by the Qatari royal family for €700m (£552m), the latest purchase of a top European luxury brand by an emerging market investor. The haute couture label loved by Jacqueline Kennedy Onassis and Audrey Hepburn said yesterday that Mayhoola for Investments S.P.C, an investment vehicle backed by a leading Qatari, had bought it from private equity fund Permira and minority investors the Marzotto textile entrepreneurs.