Is Valentino still heading for an IPO?

London - The question regarding Italian fashion house Valentino future and a certain IPO continue to be the subject of much debate, as conflicting sources claim the brand is both close and nowhere near to taking the steps for an initial public offering.

According to a report from Reuters, Valentino's Qatari owner, Mayhoola for Investments, has asked the Rothschild Group to invite banks to pitch for the advisory roles on a stock market listing, which could happen as early as of May next year. Sources indicated that a decision regarding which bank will work on the IPO is expected to be made next month.

However, sources close to WWD claim that "the process has not started" yet in regards to Valentino's IPO, with one source stressing that "no letter has been sent and no bank has been contacted." Unnamed sources stressed that there is no way a listing could happen in May, as no time line has been set in place and that all the rumours in the report from Reuters are "an element of disruption."

Both the Rothschild Group and Valentino declined to comment on the rumours.