The first step of the much buzzed-about sale of Valentino has finally occurred, with private equity firm Permira taking the first chunk (29.6% of its shares), making it the (new) largest shareholder in the company. Permira, which recently acquired English chain New Looks (home of Lily Allen's "Lily Loves" line) bought their shares from the Marzotto family, who took control of Valentino back in 2002. Not to be the Debbie Downers of fashion, but if we were the Marzotttos, we'd be checking our beds for dead horses' heads left by rival families.

Private equity firm buys substantial stake in Valentino [The Guardian]