Pal Zileri To Expand Under New Ownership
High-end Italian menswear brand Pal Zileri could be about to receive an international boost after being acquired by the backers of Valentino.
A deal to sell a majority stake in the firm’s owners, Gruppo Forall, to Qatar-based investment company Mayhoola was recently finalised, starting speculation of what this means for the brand.
Mayhoola, which is linked to the Qatari royal family, also obtained licensees Moschino and Cerruti 1881 as part of the takeover.
The undisclosed amount is thought to be close to what Mayhoola paid for Valentino back in 2012, €700m (£577m).
Pal Zileri, which was founded in 1970, is already available in seventy countries worldwide. The new deal could see further retail locations open in the UK, in addition to its current standalone stores in Westfield White City and on London’s New Bond Street.
Outside of the capital, the brand’s range of suits, shirts, knitwear, outerwear and accessories is also available at Harvey Nichols in Manchester, Leeds and Edinburgh.
Big spending Mayhoola cements Qatar’s position as the world’s fastest growing luxury market. The Qatar Investment Authority holds shares in LVMH (Moët Hennessy/Louis Vuitton), which houses Marc Jacobs, Kenzo and Nicholas Kirkwood, and in Tiffany & Co.
No official announcement has been made containing plans for the coming months. However, reports now suggest Mayhoola is turning its attention to Missoni.
Pal Zileri continues to be available online. Prices for single-breasted suits start at £888.