Fashion House Valentino in Exclusive Talks With Unnamed Suitor (Report)
Private equity firm Permira currently owns a majority stake in the Italian company, which has been approached by several potential buyers.
LONDON - Valentino is in exclusive talks with an unidentified bidder about a potential acquisition of the Italian fashion house, the Wall Street Journal reported.
There has been recurring speculation that the company, in which private equity firm Permira currently owns a majority stake, could be sold.
The Journal said Valentino received expressions of interest from a number of suitors and speculation on the price tag for a sale ranged from around $730 million to $930 million.
According to the Journal, Permira/Valentino granted a period of exclusivity to one of the suitors, which would expire this month.
"As previously stated, Valentino has seen increasing interest from a number of potential buyers," the Journal quoted Valentino CEO Stefano Sassi as saying in a statement to the paper.
"The outstanding work and stylistic vision of creative directors Maria Grazia Chiuri and Pierpaolo Piccioli and the constant growth of company's results have generated great attention towards the brand," he added.
A spokeswoman declined to comment further, the paper said. Permira couldn't immediately be reached for comment.