Kering and Mayhoola have made a significant decision to invest €100 million (approximately $117 million) into Valentino, aiming to stabilize the financial situation of the renowned Italian fashion house. This move comes in response to Valentino breaching its loan covenants earlier this year, highlighting the urgent need for financial support. Valentino operates under the ownership of MFI Luxury Srl, with Mayhoola holding a substantial 70% stake and Kering possessing the remaining 30%. According to the minutes from a shareholder meeting held on October 16, MFI Luxury Srl has committed to injecting this capital by December 10 in two separate tranches, ensuring that the brand can navigate its current financial challenges effectively.
Kering and Mayhoola’s decision to infuse 100 million euros into Valentino is documented in official records [Reuters]
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