Tactical moves, succession challenges, talent pools: discover Glitz, the first investigative publication dedicated to the global luxury sector

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QATAR SAUDI ARABIA

Sheikha Moza vs Princess Sara: Luxury battle royal between Doha and Riyadh

Overshadowed by the many events organised by Qatar during the football World Cup, Saudi authorities are trying to make up for lost time in the luxury sector, slated to be one of Saudi Arabia's main drivers of development alongside tourism. Two senior members of its royal family are leading the way. [...] (411 words)

Published on 05/01/2023 at 05:30 GMT Reading time 2 minutes

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Entourage

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Family office of Sheikha Moza's luxury adviser loses two key associates Free

The Egyptian financier Rachid Mohamed Rachid manages Mayhoola, the Qatari royal investment fund that owns Valentino and Balmain. He also runs his own luxury-focused family office on the side, Alsara Investment Group, which has just lost two high-calibre associates.

Sheikha Moza bint Nasser Al-Missned and Tahnoon bin Zayed Al Nahyan, national security adviser to the emir of Abu Dhabi. © Studio Pachamama

Spotlight

QATAR UNITED ARAB EMIRATES 20/04/2023

Abu Dhabi squares off with Qatar in race to buy up luxury brands

Behind the sale of an ailing French haute couture company, announced last week, lies an investment fund that belongs to the emir of Abu Dhabi's closest adviser. Like its Qatari rival Mayhoola, the new Gulf player is using its unlimited budget to build a portfolio of prestigious European brands.

SAUDI ARABIA SWITZERLAND 20/04/2023

How Chopard is unseating Mouawad, longstanding jeweller of the Saudi royal court

While scandal rages in Brasilia over Chopard jewellery that Saudi Crown Prince Mohammed bin Salman gifted to former president Jair Bolsonaro, the pieces in question show how the Swiss jeweller is earning pride of place with Riyadh's royals, as the Scheufele family slowly supplants its Mouawad archrivals.

SWITZERLAND UNITED KINGDOM 16/02/2023

Richemont basks in Bond Street properties while British brands brood

British luxury retailers may be struggling to keep their shops open on London's Bond Street, traditionally home to the country's finest brands, but sector giants like Switzerland's Richemont hold substantial property portfolios in the area.

FRANCE QATAR 09/02/2023

Sheikha Moza's favourite fund pours millions into Balmain to keep it humming

Since its 2016 purchase of the fashion house founded by Pierre Balmain, the Mayhoola fund, sponsored by the Emir of Qatar's mother, has regularly invested tens of millions of euros in the company. But it remains in the red.

Rachid Mohamed Rachid, chairman of the Qatari fund Mayhoola for Investments, and Sheikha Moza bint Nasser Al-Missned, mother of the current Emir of Qatar. © Studio Pachamama

Spotlight

FRANCE QATAR 02/02/2023

The Mayhoola fund and its royal backer fight for success with bottomless budget and trips to court

Actively backed by Sheikha Moza, the Emir of Qatar's mother, the Mayhoola for Investments fund is known for highly aggressive methods at odds with the hushed world of fashion. For four years, Mayhoola has been waging a legal campaign against the Taiwanese businesswoman Shaw-Lan Wang, accusing her of breaking a promise to sell it Lanvin.

FRANCE 08/12/2022

Ex-Vogue France editor-in-chief Carine Roitfeld's family businesses

Carine Roitfeld, the former editor-in-chief of Vogue France, is working closely with Sheikha Moza Bint Nasser Al-Missned to organise an unprecedented fashion show marking the end of the 2022 FIFA World Cup in Qatar. Roitfeld, who now works as a consultant, has established a series of businesses run or owned by her children.

FRANCE QATAR 10/11/2022

Louis Vuitton's uncomfortable sponsorship of World Cup football in Qatar Free

Ahead of football's World Cup in Qatar, Louis Vuitton is playing a delicate balancing act - torn between not alienating Qatar and its wealthy customers and fretting over its image by association with a tournament tainted by allegations of forced labour.

Manfredi Lefebvre d'Ovidio, principal shareholder of the bespoke travel agency Abercrombie & Kent. © Studio Pachamama

Spotlight

ITALY UNITED KINGDOM 03/11/2022

Luxury travel firm Abercrombie & Kent hangs in the balance amid family row

The brothers Lefebvre d'Ovidio, heirs to the Italian corporate dynasty that founded the Silversea luxury cruise company, are battling it out in the US and Italy for control of the family's estate. The dispute comes in the wake of one brother acquiring Abercrombie & Kent, the British bespoke travel and safari specialist.

Spotlight

SAUDI ARABIA 27/10/2022

LVMH, Kering, Richemont and Rolex face off in Riyadh, luxury's new El Dorado Free

The last Arab country under-equipped in malls and luxury shops, Saudi Arabia is progressively opening its doors to perfumes, jewellery and cosmetics, under Crown Prince Mohammed bin Salman's guidance. The industry's biggest names are jockeying for position.

MIDDLE EAST 20/10/2022

[Due diligence] The influential Al-Mana family, Hermès's go-to in Qatar and the Emirates

French leather goods manufacturer Hermès and the Italian brand Armani have both been relying on the prominent Al-Mana merchant family to co-manage their shops and liaise with the relevant authorities during their Middle East expansion.

MIDDLE EAST 06/10/2022

[Due Diligence] Al Futtaim succession leaves luxury groups in a quandary

Nearly a year after the death of Majid Al Futtaim, the Middle East's leading shopping mall magnate, the European and American luxury groups that rely on his malls to sell their products in the region are anxiously awaiting the outcome of his succession, which is shrouded in mystery.

QATAR 06/10/2022

Ritz Paris set to open its first boutique, in Doha, as it expands into franchising

Forced to ramp up its revenue in a bid to repay a debt of nearly €400m, the Paris hotel controlled by Mohamed al-Fayed and his family is preparing to open the first Ritz Paris boutique, in Qatar.

Spotlight

MIDDLE EAST 29/09/2022

Qatar mega-mall Place Vendome stakes claim on luxury windfall

Qatar is intent on recouping some of the funds its nationals spend in the boutiques of Paris, London and Geneva. With some of the world's most avid luxury consumers, the emirate is growing its own investment in the sector, sharpening its efforts before football's World Cup kicks off there in November.

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Tactical moves, succession challenges, talent pools: discover Glitz, the first investigative publication dedicated to the global luxury sector

Tactical moves, succession challenges, talent pools: discover Glitz, the first investigative publication dedicated to the global luxury sector

Sheikha Moza vs Princess Sara: Luxury battle royal between Doha and Riyadh

This article may be accessed by subscribers and e-wallet holders (USD 12.50)

2 options offered to continue reading

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Family office of Sheikha Moza's luxury adviser loses two key associates Free

Abu Dhabi squares off with Qatar in race to buy up luxury brands

How Chopard is unseating Mouawad, longstanding jeweller of the Saudi royal court

Richemont basks in Bond Street properties while British brands brood

Sheikha Moza's favourite fund pours millions into Balmain to keep it humming

The Mayhoola fund and its royal backer fight for success with bottomless budget and trips to court

Ex-Vogue France editor-in-chief Carine Roitfeld's family businesses

Louis Vuitton's uncomfortable sponsorship of World Cup football in Qatar Free

Luxury travel firm Abercrombie & Kent hangs in the balance amid family row

LVMH, Kering, Richemont and Rolex face off in Riyadh, luxury's new El Dorado Free

[Due diligence] The influential Al-Mana family, Hermès's go-to in Qatar and the Emirates

[Due Diligence] Al Futtaim succession leaves luxury groups in a quandary

Ritz Paris set to open its first boutique, in Doha, as it expands into franchising

Qatar mega-mall Place Vendome stakes claim on luxury windfall

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