Back in 2022, the world shifted its gaze and attention to Qatar, the luxurious country that was the first Arab nation to host the FIFA World Cup. Qatar proved to be a sports powerhouse, especially through its sustainable and innovative stadiums that include retractable roofs and impressive cooling technologies.
This booming country didn’t just take over the sports world but also managed to extend its power and influence to the fashion world.
So far, it’s the one Arab nation that owns some of the biggest fashion houses and departments in the world. Let us take a look at the most notable fashion houses owned by the country:
Harrods
Known around the world as one of the largest and most famous department stores around the world, Harrods cemented itself as the ultimate one-stop shop for everything from Dior handbags and Hermès Plates to gold bars embossed with the store’s own logo.
A name such as Harrods speaks for itself, making it a special addition to Qatar’s roster of properties. Back in 2010, Mohammed Al Fayed sold the department store to the investment arm of Qatar’s sovereign wealth fund for about 2.3 million US dollars.
Valentino
A consistent staple in film and the red carpet is one of the most recognizable brands in the world known as Valentino. It has become a literal embodiment of high fashion, known for its eponymous red dress that appears in every collection.
Knowing the big name it holds, the Qatari royal family, known as the world’s most active investors, nabbed it for 700 million euros back in 2012. The fashion house fits the ideal profile for investment, as it’s iconic, known for its quality, has long-term value, and has an appealing customer base.
Balmain
The French fashion house has always stood out for its unique collection of bags, as well as its very innovative use of quotes on clothes. Also, since its inception in 1946, the brand has been empowering women, pushing for strong, maximalist glamor.
Back in 2016, the French fashion house, which is loved by Hollywood and the Kardashian clan, was bought by a private investment group linked to Qatar’s royal family.
Pal Zileri
Known as Italy’s leading menswear company, it’s made up of refined and elegant clothing to accompany the different moments in the life of every man. It’s known to boast a wide collection of menswear with an Italian fit: lean, flattering, and close to the body.
Through its sheer elegance, the Italian men’s wear brand caught the attention and eye of Mayhoola, a Qatari investment fund with an eye for the luxury sector. They bought 65% of Pal Zileri for an estimated $145 million.
Louis Vuitton
Way back in 1896, the luxury brand Louis Vuitton introduced the world to the famous LV monogram, a design that today is noticed and recognized by people around the world. Known to excel in quality, every bag, wallet, or belt made by Louis Vuitton is individually handmade with the utmost care.
Such an iconic and widely loved luxury brand also caught the eye of Qatar Holding LLC, who own Harrods. They ended up buying a 1.03 percent stake in the French luxury giant.
Printemps
Brought to life back in 1865, Printemps is one of the French leaders in fashion, luxury, lifestyle, and beauty. With 20 department stores open all over France, it holds a special place among fashion lovers in France as well as global visitors.
With it being yet another major department store, Qatar knew it had to nab a share in Printemps. In 2013, the company became the property of a Luxembourg-based Qatari-backed investment fund, Divine Investments SA.
Owning some of the major fashion houses and department stores across the globe is a big win for any investor, let alone one of the most luxurious and booming Gulf countries, Qatar. With more time, we have a feeling the country will scale up on investments, taking over bigger properties, businesses, and so on.