The Royal Money Powering Balmain and Valentino's Runway Shows

"Both Balmain and Valentino are controlled by Mayhoola, the well-resourced investment vehicle of Qatar's ruling Al Thani clan, whose financial muscle has propelled the two maisons into the fashion stratosphere of Top 20 global runway brands."

"It's been a determined project which began back in July 2012 when Mayhoola, in a closed-bid, overwhelmed a quartet of rival bidders - LVMH, Kering, and two Italian billionaire clans, the Zegnas, and Diesel jeans empresario Renzo Rosso, by paying $730m for Valentino, almost four times annual revenues."

"In his collection, Michele harked back to the "hedonistic grandeur" of 1980s Valentino, with mega-wide-shoulder red-silk gowns, lavender columns, or rock-goddesses caramel-leather blousons. Everything was finished with big, baroque pearl necklaces and dense cluster crystal earrings - echoing the Palazzo's architecture."

Mayhoola, the investment vehicle of Qatar's ruling Al Thani family, owns two major fashion houses: Balmain and Valentino. The group acquired Valentino in 2012 for $730 million, outbidding LVMH, Kering, and Italian billionaires, paying nearly four times annual revenues. Four years later, Mayhoola purchased Balmain for $520 million under similar terms. Both acquisitions have propelled these maisons into the top 20 global runway brands. Recently, Balmain debuted new creative director Antonin Tron in Paris, while Valentino, now led by Alessandro Michele from Gucci, presented a collection in Rome inspired by 1980s hedonistic grandeur, featuring wide-shoulder gowns and baroque accessories.

Read at Elite Traveler