According To A Source, Balmain Reportedly Seeking Sale

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Balmain's Olivier Rousteing1

The above image is Balmain’s creative director Olivier Rousteing.

There’s no doubt that the House of Balmain was one of the hottest luxury brand’s last year and it is also a household name. Creative Director, Olivier Rousteing is one of the few designers who actually diversify their¬†shows and ad campaigns.

However, a change may soon come to Balmain. Reportedly, the heirs of Alain Hivelin, the late owner of the French fashion house, are looking to sell Balmain, according to market reports.

Below is what BoF reported:

The heirs of Alain Hivelin, the late chairman and majority owner of Balmain who died in 2014, have decided to give up control of the brand, French newspaper Les Echos reported Thursday.

According to¬†Les Echos, the family has given a sale mandate to Buc√©phale Finance, an investment bank, and a sale could value the company at ‚ā¨300 to ‚ā¨400 million. Relatives of the family, who hold the remaining 30 percent stake in the company, should also sell their shares in the event of a sale. French, British¬†and Asian investors have reportedly¬†expressed interest.”

Since 2011, when Hivelin appointed Olivier Rousteing as creative director, the historic fashion house ‚ÄĒ which was founded by eponymous designer Pierre Balmain in 1945 ‚ÄĒ has risen to prominence, in part, through its social media presence and connections to high-profile celebrities such as the Kardashians. In November, Balmain’s clothing collaboration with H&M caused a frenzy at H&M stores, where it sold out after¬†shoppers queued up in the early hours of the morning on the day of its release. According to market sources, Balmain‚Äôs annual revenue is approximately ‚ā¨30 million.”

Stay tuned to donbleek.com as this story develops!

Source: BoF | Les Echos

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Donovan

Donovan is the CEO and Editor-In-Chief of www.dmfashionbook.com. For all general inquiries please email don@dmfashionbook.com Donovan has a BA in Journalism & Media Studies from the prestigious Rutgers University. He's currently studying entertainment and fashion law.