Most Recent Articles In Fashion Scoops
Latest Fashion Scoops Articles
- Gianfranco Lotti Bows in Florence
- Piquadro Gearing Up for U.S. Debut
- Ermenegildo Zegna Couture Taking Over Windows at Harrods
More Articles By
QATAR’S RETAIL BASKET: Qatar Holding LLC has established some serious luxe and retail credentials lately. The investment house not only acquired Harrods for a reported $2.22 billion in 2010, but has since snapped up a 1.03 percent stake in LVMH Moët Hennessy Louis Vuitton and a 5.2 percent share in Tiffany & Co. It also bought 26 percent of J. Sainsbury, the British supermarket, in 2010. The group, which invests on the behalf of the State of Qatar and is linked to the Gulf nation’s royal family, is already ahead in the retail game.
It’s hard to know just how much Qatar shelled out on its spending spree. But looking at what the investments were worth as of the date they were first reported as well as currency changes and stock price fluctuations, the firm has paper profits of $7.7 million on its Tiffany stake and is ahead $109.9 million on LVMH. So far, it is behind $59.3 million on J. Sainsbury.
Keeping the value of Harrods constant, the $5.9 billion Qatar invested in the four companies has risen to $5.96 billion.