Qatari Investment Group takes 100% ownership of Pal Zileri

On July 27, 2016, Women’s Wear Daily (WWD) reported that Qatari investment fund Mayhoola for Investments now owns 100 percent of Pal Zileri’s parent company Forall Confezioni SpA. Around the same time, Milan-based Pal Zileri announced that CEO Paolo Roviera and General Merchandising Manager Stefano Gaudioso Tramonte were leaving the company.

In 2014, Mayhoola had acquired a 65 percent stake in Forall Confezioni SpA for an estimated $145 million from a group of Italian investors. They then purchased the remaining 35 percent of the equity from Egyptian Arafa Holding, which had acquired its 35 percent stake in Forall in 2008. Terms of the transactions were not disclosed.

Forall was established in 1970 in Vicenza near Venice by Gianfranco Barizza and Aronne Miola. Prior to the launch of the Pal Zileri clothing line, Forall produced high-quality clothing for the fashion industry. Pal Zileri specializes in both formal and casual menswear and is named after an Italian aristocratic family originating from Vicenza. Mauro Ravizza Krieger was hired to design the collection after Mayhoola acquired its majority stake in 2014. It has been estimated that revenues were €80 million in 2013.

The Qatari investment fund started to make investments in the luxury industry in 2012 with the acquisition of Italian fashion house Valentino from private equity firm Permira for about €700 million. In June 2016, Mayhoola acquired the French fashion house Balmain.

Sources: WWD, Pal Zileri, Dolve Vita

Photo credit: Courtesy of Pal Zileri