Earlier this month, rumours flew throughout the fashion world that the company was being bought out by an investor, but the company were quick to dispell the rumour, as just that.
However, this week the company have announced that an interested party did offer to buy out the business, which they accepted.
"We are delighted with this development," said Stefano Sassi, CEO of Valentino. "During the past few years, despite swings in the luxury markets, the company has operated with great intensity and remained focused on maximizing the potential of the Valentino brand".
A recent look from Valentino, which Sarah Jessica Parker was recently photographed wearing
Sassi will stay on as CEO, as the design process is lead by dual creative directors, Maria Grazia Chiuri and Pierpaolo Piccioi.
"Our vision is to back management for the long term to exploit the full potential of this exciting brand. We believe Valentino is ideally suited to form the basis for a global luxury goods powerhouse" a spokesperson for the investment company, Mayhoola for Investments S.P.C., said today.
"Valentino has always been a brand of unique creativity and undisputed prestige" they added, before singing the praises of the design team behind the brand. "Their ability to blend the aesthetic values of the founder, Valentino Garavani, with a contemporary and sophisticated vision, has been instrumental in enhancing the brand's relevance and establishing a platform with significant future potential".
Valentino, founder and namesake of the label, pictured with Anne Hathaway in 2011
The brand was originally started by Valentino Garvani in the early Sixties, who was at the helm of the company and the design process for much of that time, until his retirement in 2008.
Ten years ago, Valentino S.P.A. was sold to a Milanese textile giant Marzotto Apparel. The company's headquarters are based in Milan, Italy.
