Major Valentino outlet to open soon in Piazza di Spagna

Italian fashion house Valentino is preparing to open a new megastore in Rome, between Piazza di Spagna and Piazza Mignanelli in the capital's exclusive central shopping district.

The store, which covers 1,000 sqm over two floors, is currently undergoing finishing touches behind signs saying "Valentino opening soon”.

The store was bought last November for a reported figure of €100 million by Qatar's sovereign wealth fund. The cash-rich fund is headed by the Qatari royal family which paid a reported €700 million for the luxury fashion label in 2012.

Last April Sheikh Hamad bin Khalifa al-Thani, the former Emir and father of the incumbent Qatari leader, visited Rome and told former mayor Gianni Alemanno that "Rome is interesting not only as a cultural attraction but also [as a place] for investment."

The exisiting Valentino store in Piazza Mignanelli, just metres away from the new premises, will remain open.