The Telegraph reports today that it's a done deal, with private equity firm Permira unloading the fashion house for £476 million (about $736 million) to an unidentified "sovereign wealth fund." Meanwhile, WWD writes that "a sale of Valentino Fashion Group could be just weeks away," and adds that the brand wouldn't discuss reports that Qatar's royal family is the likely buyer, offering to pay £550 million (about $852 million).

"As previously stated, Valentino has seen increasing interest from a number of potential buyers," said Stefano Sassi, chief executive officer of Valentino. "The outstanding work and stylistic vision of creative directors Maria Grazia Chiuri and Pier Paolo Piccioli and the constant growth of [the] company’s results have generated great attention towards the brand."

No rush, Sassi. Just keep us posted.