Valentino Owner Denies Plan to Sell Italian Fashion Brand
Mayhoola, which owns 70% of Valentino, isn't seeking to sell, a representative for the Qatari fund told Bloomberg News.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Glenfiddich and the Balvenie's Parent Company Reports a Nearly 30% Profit Drop in 2024
It seems that tough times continues to hound the spirits industry, and scotch whisky is one category that is feeling the pain. Late last week, the family-owned company William Grant & Sons (owner of major whisky distilleries Glenfiddich and the Balvenie, as well as Milagro Tequila and Sailor Jerry Rum) reported a significant decrease in profits by nearly 30 percent in 2024. It remains to be seen how this year will play out, but that's a lot of ground to make up. According to a recent article in The Herald, WGS, which is owned by the billionaire Grant family, reported that its profits dropped by about a third in the year ending in December of 2024, and revenue was down by 6.5 percent. 'In a year marked by industry-wide challenges, the decline in revenue compared to 2023 is in line with market trends, including the continuation of significant destocking,' said a rep for the company in a statement. 'Despite these significant headwinds, William Grant & Sons maintained its commitment to quality and innovation. This was demonstrated by the announcement of Glenfiddich's multi-year partnership with the Aston Martin Formula One team in November 2024, bringing together two brands renowned for their heritage, innovation, and pursuit of excellence.' More from Robb Report A Brand-New Pebble Beach Compound Overlooking Spyglass Hill's 11th Fairway Lists for $10.9 Million One of America's Biggest Whiskey Distilleries Has Seen Its Sales Plummet Ex-Google CEO Eric Schmidt Just Dropped $110 Million on Aaron Spelling's Former L.A. Mansion Despite these challenges, Glenfiddich and the Balvenie remain in the list of top five best-selling single malts (rounded out by the Macallan, the Glenlivet, and Glenmorangie). And WGS completed the purchase of Naked Malt and the Famous Grouse this month; the latter is the best-selling blended scotch in the U.K., so presumably that will help sales figures. On the other hand, the company decided to partially pause production at its Tullamore D.E.W. distillery in Ireland this past spring, part of an ongoing trend in the whisky industry. (The company said production will resume this summer.) Of course, we are only halfway through 2025, so it remains to be seen whether these losses will continue or the course will be reversed, although the recent negotiation between the Trump administration and the E.U. resulting in a 15 percent tariff likely won't help. In the U.K., politicians are pressing him to ease the current 10 percent tariff on scotch that has been levied against the industry to the tune of about £4 million per week, according to the Independent. The situation remains fluid, but we will report back with any significant updates. Best of Robb Report Why a Heritage Turkey Is the Best Thanksgiving Bird—and How to Get One 9 Stellar West Coast Pinot Noirs to Drink Right Now The 10 Best Wines to Pair With Steak, From Cabernet to Malbec Click here to read the full article. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Some Investors Don't Understand Underlying Structure: Zwirn
Arena Investors Co-Founder, CEO and CIO Dan Zwirn believes a lot of investors do not understand the underlying structural leverage of some of their investments. He explains with Sonali Basak on "Bloomberg Real Yield."
Yahoo
2 hours ago
- Yahoo
Man Utd striker Hojlund available for £30m
Manchester United are prepared to sell striker Rasmus Hojlund for £30m. The Denmark striker scored twice against Bournemouth in Chicago on Wednesday. Immediately after the game he sought out waiting journalists to say his intention was to remain at United despite their ongoing interest in signing RB Leipzig's Slovenia forward Benjamin Sesko. However, the situation is not quite so straightforward. Newcastle are also keen on Sesko but are yet to strike a deal with RB Leipzig for the 22-year-old. United are waiting to decide their next move and there have been reports that the player would prefer to switch to Old Trafford. United sources are adamant they could do a deal before selling players. But it is accepted that there would have to be exits to ensure they remain compliant with the Premier League's profit and sustainability rules. And, if Sesko arrived, Hojlund would be marginalised. If Hojlund was sold for £30m, it would effectively be a loss for United given the forward's 'book value' is £43m as he is two years into the five-year contract he signed. United have spent almost £130m this summer on Bryan Mbeumo and Matheus Cunha. Latest Manchester United news, analysis and fan views Get Man Utd news notifications
