Al Fayed, re-building a luxury empire ?
Following the acquisition of German based online luxury retailer COCOSA last week, the Al Fayed family, known for its former ownership of Harrods and current ownership of The Ritz Hotel in Paris, made yet another move, Camilla Al Fayed buying a controlling share in the Duchess of Cambridge’s favourite label, Issa, WWD have revealed.
The daughter of ex Harrods owner, Mohamed Al Fayed, purchased a 51 per cent stake in the label which was thrust into the public consciousness after Kate Middleton chose to wear a slinky royal blue wrap dress by designer Daniella Helayel for her first official photo call as the fiancée of Prince William.
Al Fayed sold London’s iconic department store Harrods in 2010 to Qatar’s Royal Family for 1,5 billion pounds, however, has not made any significant investment since. Recently, media has been speculating, The Ritz Hotel in Paris is also to be sold to Qatar by the end of this year.