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Valentino To Be Sold For $852 Million!

Filed under: Business BlitzValentino

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Valentino is on the verge of being sold for $852 million to an unknown seller!

The Italian fashion house was purchased in 2007 by the Permira private equity group and then resold in 2011 to co-creative directors Maria Grazia Chiuri and Pier Paolo Piccioli.

The label lost moola in 2009, but it's numbers shot back up by 18% in 2011.

Chief executive officer of Valentino, Stefano Sassi said:

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The Middle East Censors Gisele's H&M Ads

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They may live in the desert, but apparently Gisele Bundchen is way too hot for the markets of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.

The Gulf Cooperation Council decided the supermodel's H&M ads were too risque, so they added some white shirts to cover up her chest and arms.

Inneresting, but surprising? No.

Thoughts???

[Images courtesy of Fashionista.]

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A Colorful Olivia Palermo Poses For HauteMuse

Filed under: Spread 'EmOlivia Palermo

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Olivia Palermo has landed herself in Qatar's very first high-fashion magazine HauteMuse.

The reality starlet was flown in from Milan to do the cover shoot for the mag, which will premiere this spring.

We can't wait to see the rest!

[Image courtesy of Al-Reem Kafoud.]

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Another Fashion Fail For Salma

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She's really in a fashion funk!

On Tuesday night Salma Hayek continued her bad fashion streak at the Doha Tribeca Film Festival in Qatar.

The usually well dressed actress showed up in an Alexander McQueen Resort dress, unfortunately she couldn't make it work.

Just because your hubby's company owns the label, doesn't mean you have to wear it.

[Image via Getty Images.]

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Harrods Sold To Qatar's Royal Family

Filed under: AnglophiliaBusiness Blitz

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And it wasn't cheap!

London's famed department store Harrods has been sold for a whopping $2.2 billion. As part of the deal, the new owners promised to "maintain the traditions of Harrods".

With the announcement of the sale, now former-owner Mohamed Al-Fayed announced his retirement while counting his money all the way to the bank.

What a way to go out!

[Image via AP Images.]

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