Sign in Register
20 August 2012 10:51 am

Sheikha Mozah firm said to invest $42m in UK designer

Daisy
Daisy
Discuss here!
Start a discussion
A company linked to Sheikha Mozah bint Nasser, the wife of the Emir of Qatar, is behind a £27m investment in luxury handbag and accessories manufacturer Anya Hindmarch, it has been reported. The UK's Telegraph reported that Qatar Luxury Group has bought the stake in the British company. It said the investment was led by a vehicle called Mayhoola for Investments (Qatar), which buys stakes in luxury goods businesses on behalf of the Qatari royal family. It added that Sheikha Moza has placed two directors on the board of Anya Hindmarch’s holding company, ASHS. Anya Hindmarch has declined to name the investor. The deal will significantly increase the Gulf state’s assets in the European luxury goods market. Qatar Holding paid $2.3bn for the Knightsbridge department store Harrods in 2010 and also owns assets ranging from stakes in German sports car maker Porsche to shares in British bank Barclays. Doha-based Mayhoola for Investments acquired the Italian fashion house Valentino for €700m ($857.5m) last month. Sheikha Mozah, who was last month voted among the most stylish women in the world by US magazine Vanity Fair, owns the Qatar Luxury Group, which also has a stake in French leather goods maker Le Tanneur & Cie. Last year, Qatar Luxury Group said it was in talks with a three-starred Michelin chef to open a new restaurant in the Gulf state. CEO Gergory Couillard said the organisation, wholly owned by Qatar foundation, was currently developing its brand identity ahead of future announcements. He said the company came about as a result of Sheikha Moza bint Nasser’s vision of creating a luxury brand embracing education and providing an opportunity to foster local and international talent. Business.com