Fashion house Balmain sold to the Qatari Foundation Mayhoola
The luxury Balmain House will become Qatari. Mayhoola Investment Fund, which is supported by the royal family of Qatar, and which also owns the Italian fashion brand Valentino, acquires the French fashion house Balmain. “Upon completion of the transaction, Mayhoola will own 100% of Balmain's shares,” comments the company, which is servicing the merger and acquisition transaction of Bucephale Finance.
The French newspaper Les Echos, in its report on the deal, said that the Qatari fund offered 485 million euros for Balmain, which today belongs to the heirs of the former CEO of Balmain, Alain Ivlene, who died in December 70, the remaining 2014% are in property management company.
Qatar has offered a price higher than the company originally estimated - 300-400 million euros. This is the second luxury brand that becomes the property of the Qatari foundation; Italian brand Valentino was acquired by Mayhola in 2012.
Fashion house Balmain was founded in 1945 by designer Pierre Balman, and in recent years has changed owners several times. Over the years, the company has experienced financial difficulties.
In 2005, Christophe Descarnenne, who was creative director with Paco Raban, joined the fashion house team, he gave the brand a new life, attracting movie stars Marion Cotillard and Gwyneth Paltrow to cooperation.
Since 2011, the creative director of Balmain has been Olivier Rustan.
Balmain luxury house will become Qatari. Mayhoola Investment Fund, which is supported by the Qatari royal family and also owns the Italian fashion brand ...
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