Qatar's Royal Family to Buy Stake in Lanvin
Famed French fashion house Lanvin of Paris is in talks to sell a major stake in the business to Qatar's royal family. Lanvin owner Shaw-Lan Wang, a Taiwanese media magnate, is said to be keen to exploit the brand's burgeoning success under current creative director Alber Elbaz, formerly of Yves Saint Laurent, Vogue UK reports. While nothing is set in stone, the deal is said to be worth many millions. Qatar's ruler, Sheikh Hamad bin Khalifa Al Thani, is ranked at No. 7 on Forbes' list of the world's richest royals with a fortune of $2 billion. Since Sheikh Hamad ramped up the development of Qatar's vast oil and natural gas reserves, the country now has the highest per-capita income in the world.
