Pepe Jeans may soon get a royal owner. Reuters reported that the Qataris royal family is leading the race to buy the Spanish brand, as buyout funds struggle to match the sellers’ expectation of at least $874 million.
The fashion and denim company, which is also selling its men’s label Hackett, expects to receive bidding offers in about three weeks, however, a source told Reuters the Qataris are the only bidder willing to pay the hefty price.
The Qatari family is using Mayhoola for Investments SPC, which is closely connected to the former emir’s second wife Sheikha Mozah, as an investment vehicle to place its offer.
In 2012, Mayhoola purchased Valeninto from Permira. It also owns a majority of Forall Confezioni, the makers of Italian luxury menswear brand Pal Zileri, and is the licensee for Cerruti 1881 and Moschino.