Valentino’s Parent Company Purchased The House Of Balmain

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Balmain's Fall 2016 Ready-To -Wear1

Balmain’s Fall 2016 Ready-To -Wear (Kendall Jenner).

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).

Then in April, we reported that Valentino, which is owned by members of the Qatari royal family, has reportedly put forth an offer of €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” (see it here).

In our latest update, we found out that Balmain‘s chief executive Emmanuel Diemoz confirmed to WWD that Mayhoola for Investments, the Qatar-based parent of Valentino and Pal Zieri, has acquired a majority stake in the high-end Paris fashion house, which has been charting rapid growth from a small base.

The exact financial terms of the deal were not disclosed. donbleek.com could confirm that the deal is expected to close the end of this summer.

This set the stage for Balmain to ramp up its development.

“In recent years, Balmain’s trajectory has been more than impressive,” a Mayhoola representative said in a statement. “Under the leadership of Emmanuel Diemoz and creative direction of Olivier Rousteing, the historic house speaks to a new, younger and more savvy consumer, while never forgetting its heritage or the importance of true Parisian craftsmanship. The house’s remarkable growth and many accomplishments in recent years have reinforced the brand’s potential to become a true global luxury goods leader. By backing the current management and design team, we aim to ensure that Balmain achieves its full potential. We believe Balmain will contribute significantly to our ambition to build a global luxury goods powerhouse.”

In an exclusive interview Wednesday at Balmain headquarters on Rue Francois 1er, Diemoz said that the company would push into accessories, which currently represent only 4 percent of the business, and expand its retail footprint with more boutiques.

Diemoz noted Rousteing, who is slated to show Balmain’s spring 2017 men’s collection on Saturday, plans to introduce an expanded range of footwear next year.

Besides Diemoz, other members of Balmain’s management board who own stakes include Jean-François Dehecq, chairman.

Mayhoola, said to be controlled by Qatar’s royal family, bought the Valentino fashion house in July 2012 and is a minority shareholder in the Anya Hindmarch accessories brand. In 2014, it added a majority stake in Forall Confezioni SpA, which produces Pal Zileri and also holds licenses for Moschino and Cerruti 1881.

Balmain's Fall 2016 Menswear 2

Balmain’s Fall 2016 Menswear 

Balmain's Fall 2016 Ready-To -Wear2

Balmain’s Fall 2016 Ready-To -Wear (Jourdan Dunn)

Balmain's Fall 2016 Menswear

Balmain’s Fall 2016 Menswear 

Photos Credit: Monica Feudi/Indigital.tv | Monica Feudi/Indigitalimages.com

Source: WWD

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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.