Qatar: speak softly and cornered the market of luxury

Soon, a London-based pan to leave his home in the English capital of the new luxury skyscrapers, get the engine in his Lamborghini at Tiffany's, a favorite piece of jewelry for his wife and perhaps from Harrod drop in the number to show off to the thigh for the seamstress in her chic and Valentino. Each step of the process can be binging our Brit to strengthen the state fund of Qatar. Recently, the tiny emirate of politically assertive - taking a discreet but important role in the Syrian crisis, for example - buy and financially, with its oil wealth a significant portion of the Shell, Barclays Bank, and the British mining company Xstrata. But nowhere is the influence of Qatar felt strongly that at the end of the luxury sector. In April it was announced that the Qatar Investment Authority, which is now estimated at about $ 100 billion, had low five percent of Tiffany [TIF 51.83 -0.57 (-1.09%)] camp, surprising even executives absorbed brand of jewelry. Word came this week that the Qataris in serious talks to buy the fashion house Valentino. Qatar is the majority owner of Radiance, the tallest building in Britain, whose upper floors are devoted to luxury apartments. Qatar shopping since 2010, when the QIA Harrod, save British luxury department store has been caught. The year before, the fund had 17 percent of Volkswagen [Vow of-127, 20 2.10 (1.68%)], added to his fortune, making it a co-owner of Porsche, Audi, Bugatti, Lamborghini and. It also has one percent of LVMH, the French parent company of brands such as Dom Perignon, Louis Vuitton. At that time, Qatar's luxury purchases were one data point over a larger trend as capital funds to buy up the fashion and retail brands like Jimmy Choo (Tower Brook Capital, among others, former owners) and Valentino Himself (Permira). But most of the time after sailing through the recession, the luxury market, and investor enthusiasm showed signs of slowing down. Not the Qataris. The faith of the country, may in luxury with chic taste of Qatar to do many things that can be combined, especially the ruling family. Prime Minister of the emirate and the president of the QIA, Sheikh Hamad Jaber Al Thani bin Jassim bin is said to have paid for their own account, more than $ 90 million for a penthouse in Manhattan. In London, the royal family of Qatar for its fleet of supercars adapted, painted bright turquoise known. Given the emirate's major diplomatic and military initiatives, it is likely that calculates the storage on the labels of designers like Valentino and revered institutions such as Tiffany, is to further raise the profile of Qatar on the world stage. In the meantime, it does not hurt to have both rich clients.