Valentino will distribute 150 million euros worth of dividend to its parent company Mayhoola to partially repay the investment the Qatari fund made when it acquired the late designer’s namesake label in 2012.
According to the economic newspaper ‘Milano Finanza’ this is a way to repay, in part, the investment made five years ago by the Qtari sovereign fund. “Now, at one time, it repays 21 percent of the spending five years ago."
Industry experts quoted by Milan Finanza interpret the distribution of the 150 million dividend as "the will of the Qataris to start evaluating a way out of the Italian fashion store", reported Reuters.
Valentino registered a 13 percent increase in revenues to 1.1 billion euros by the end of its fiscal year 2016. The fashion label’s EBITDA grown from 180 million euros in 2015 to 206 million in 2016, while operating profit raised from 114 million to 133 million euros.