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Qatar Luxury Group to launch boutique
July 28, 2013 11:55 by kippreport
Qatar Luxury Group will launch the first boutique in Doha for its luxury brand, Qela, in late September, selling leather goods, shoes, jewellery and made-to-measure clothing designed with the country’s heritage in mind.
A unit in Paris will follow in the coming months, a company statement said.
Qatar Luxury Group, owned by the Qatar Foundation and headed by former LVMH executive, Gregory Couillard, made its first acquisition by buying an 85.7 per cent stake in the Paris-listed leather goods company, Le Tanneur et Cie, last year.
Qatar’s sovereign wealth fund has been one of the world’s most active investors with assets ranging from stakes in the German sports car maker, Porsche, to shares in the British bank, Barclays.
It bought the London department store, Harrods, in 2010 from the Egyptian-born businessman, Mohamed al-Fayed, in a deal reported to be worth around £1.5 billion.
In July 2012, the fund announced its plans to take the Harrods brand global to cities, such as, Paris and New York. It also bought a 1.03 per cent stake in the luxury conglomerate, LVMH.
The Qatari royal family also bought the Italian fashion house, Valentino, last year in a whooping EUR700 million.