Mayhoola For Investments

Over 260 images dropped during Milan Fashion Week provided a look at the star designer’s plans for the Roman couture house. ‘It’s a continuous orgasm,’ he said.

The Rome-based couture house’s bet on Rome’s most bankable design talent could help it punch above its weight.

A new creative configuration will be announced soon, the Roman couture house said.

Momentum in China and tourist spend in Europe enabled the sector to continue growing in Q2, while Kering’s surprise acquisition of a 30 percent stake in Valentino suggests there is more consolidation to come, writes Imran Amed.

The French group has the option to acquire 100 percent of the Italian label within five years. Kering chairman François-Henri Pinault described the deal as a ‘first step’ in a broader partnership with Qatari investment fund Mayhoola.

By entering into a rare licensing agreement with the French fashion house, the beauty conglomerate would be looking to repeat the success it had turning Tom Ford Beauty into a billion-dollar business.

CEO Jacopo Venturini and designer Pierpaolo Piccioli are working to transform the Roman brand from the inside-out, reinvigorating the company’s internal culture as well as its commercial offering.

In his first press conference since joining the brand, chief executive Jacopo Venturini said a new merchandising strategy and upmarket repositioning have helped sales get almost back to 2019 levels.

The Italian group's revenues totalled around €1.2 billion ($1.36 billion) last year, said chief executive Stefano Sassi.

The brand has parted ways with long-time Qatari backer Mayhoola for Investments after a challenging period of restructuring.