A model walks the runway at the Valentino Haute-Couture show as part of Paris Fashion Week on July 4. Picture: Getty Images

Italian fashion house Valentino is in exclusive talks with a potential but unnamed buyer, the company said, with Qatar's royal family believed to be interested.

"Valentino has seen increasing interest from a number of potential buyers," said Stefano Sassi, chief executive of Valentino Fashion Group and the Valentino fashion house.

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"An exclusivity has been granted to one of the potential buyers, who expressed interest in the long-term potential of the brand, and it is expected to expire in July."

British media reported on Sunday that Qatar's royal family was in advanced talks to buy the fashion label from its current owner, private equity firm Permira, for about £550 million-£600 million ($842 million-$919 million).

The West Australian

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