Mayhoola increases Pal Zileri stake to 100% and changes management
There are changes in Pal Zileri's shareholding and top management, including a new CEO announced for next September. The fashion label is the main brand of Italian menswear manufacturer Forall Confezioni, owned since April 2014 by the Mayhoola Group, the Qatari royal family's investment fund.
In a brief statement, the group has thanked "for their valuable contribution" the current CEO Paolo Roviera, who was appointed in June 2014 and tasked with relaunching Pal Zileri, and Stefano Gaudioso Tramonte, hired at the same time as the label's General Merchandising Manager.
This strategic overhaul coincides with the the Mayhoola Group's announcement that its stake in Forall Confezioni has risen to 100%.
The Qatari investment fund became the Italian company's majority shareholder in 2014, with a 65% interest, alongside Egyptian group Arafa Holding, who owned the remaining capital.
The value of the transaction was not revealed. Mayhoola Group has simply stated that this new step confirms its involvement with Pal Zileri, and highlights its willingness to lead the brand "to a new stage of expansion and global growth, with a long-term strategic vision."
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