Valentino Fashion Group
The Valentino Fashion Group ( VFG ) SpA until 2005 Italfashion SpA, is an Italian fashion house based in Milan, which is located since 2012 in the possession of the royal family of Qatar. Among the most famous brands of the group include the fashion brand Valentino SpA and licensed brand M Missoni and up to spin off from the group in late 2009 the fashion brand Hugo Boss and 2012 the license fashion brand Marlboro Classics MCS.
Business
The Valentino Fashion Group was founded in 2005, established after the split of the Italian textile group Marzotto in a textile and fashion sector as a holding company and went in the same year at the Milan Stock Exchange. The Marzotto Group was founded by Luigi Marzotto (1773-1869) in 1836 as a textile factory Lanificio Luigi Marzotto & Figli in Valdagno ( province of Vicenza). Over the years, Marzotto had acquired several brands, including 2002, the fashion brand Valentino. The entrepreneur - son and former manager Gianfranco Ferré at, Matteo Marzotto (born 1966 ), then became CEO of Valentino SpA and led from 2005 to 2009, the Valentino Fashion Group.
Under the umbrella of the Valentino Fashion Group, the former fashion division Italfashion SpA The Marzotto Group, ( menswear ) and Lebole located next to the designer brand Valentino ( men's and women's fashion ) more own fashion labels such Principe ( menswear ), portrait ( menswear ), Oxon ( menswear ) and the licensed brands Marlboro Classics ( Men 's and women's casual wear, since 1984 ) and M Missoni ( womenswear since 1986). 2007 also VFG climbed for a purchase price of $ 3.7 million with a stake of 45% in the New York fashion label Proenza Schouler ( women's fashion ). This participation was reduced in mid-2011 through a sale to an American investor group for an estimated 10 to 20 million dollars to 5%.
Since the split of 2005, the textile division of the independent Marzotto SpA controlled to the next Marzotto even the brands Bassetti, Lane Rossi, Guabello, Linificio, Marlane and Tessuti di Sondrio and subsidiaries of finance, leasing, service and real estate belong. CEO of Marzotto SpA since 2007, Sergio Tamborini; Matteo Marzotto is a member of the Board of Directors.
The Valentino Fashion Group in 2006 generated a net consolidated sales of 1.963 billion euros, of which 1.495 billion to the former subsidiary Hugo Boss, at the VFG to 2009 the majority stake owned ( 55.28 % proportion with 88.02% voting rights ). As early as 1991 Marzotto had taken over the Hugo Boss AG majority, which was then transferred to the VFG portfolio in 2005.
From mid-2007 to November 2007 took over the British private equity firm Permira in stages 98 % of the share capital of VFG Marzotto. Through a separate share purchase, Permira had secured 90 % of the voting rights in Hugo Boss. The total value of the transaction ( Valentino Fashion Group and Hugo Boss) is given by Permira with 5.343 billion euros. VFG share was taken in consequence of the market. The end of 2007 left the fashion designer Valentino Garavani Valentino SpA, after Permira had not renewed his contract. Successor by Matteo Marzotto as VFG CEO Stefano Sassi was. Sassi was in 2006 as the successor of Antonio Favrin CEO of Valentino SpA been.
The end of 2009 the owner Permira divided the Hugo Boss brand, which had contributed in 2008 to 76 % of sales and almost 90 % of the profit of VFG, from the group. Hugo Boss has since been to the Luxembourg Permira Funds Red & Black Lux S.à rl Holding, the parent company of Valentino Fashion Group until 2012. Though Hugo Boss had been sold as part of the VFG of Marzotto at Permira Permira ordered in spring 2010 Marzotto family members to the Supervisory Board of Hugo Boss, raising sales rumors, but these were denied. The Marzotto family includes about 22% at the Red & Black Holding; the rest is owned by the Permira. The state Permira in 2012 was 89% of the voting shares owned by 66 % of the capital stock of Hugo Boss.
Claims to 2011 showed the VFG Group at a turnover of 322 million euros. The operating profit quadrupled to 22.2 million euros.
In July 2012, Permira announced together with the family Marzotto the sale of Valentino Fashion Group at a state-owned investment group from the Emirate of Qatar known. The purchase price was estimated at over 600 million euro. Licensed Brand Classics MCS and the Hugo Boss brand remained at Permira.