Valentino Offers $569 Million To Buy French House Balmain

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Balmain's Olivier Rousteing1

Balmain’s creative director¬†Olivier Rousteing.

Last February, donbleek.com reported that “the heirs of Alain Hivelin, the late owner of the French fashion house Balmain, are looking to sell Balmain,” according to market reports (see it here).

Valentino, which is owned by members of the Qatari royal family, has reportedly put forth an offer of¬†‚ā¨500 million (roughly¬†$569 million)¬†to buy¬†Pierre¬†Balmain. According to French newspaper, Les Echos, “The emirate of Qatar, owner of Valentino, filed a preemptive bid for the French fashion house Balmain.¬†The emirate, owner of the Italian fashion house since 2012, is indeed in the running to take over the French fashion house led by its artistic director, Olivier Rousteing.”

A Chinese group and an American investor have also put in offers to purchase the French house as well, though names were not provided.

The heirs of Alain Hivelin have until Thursday whether to accept one of these three offers.

Stay tuned to donbleek.com as this story develops!

Photos Credit: Courtesy

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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.