Valentino's Parent Company Officially Purchases Balmain
Back in April, it was rumored that Valentino's parent company, the Qatari Mayhoola investment fund, was interested in acquiring Balmain. Yesterday, an advisor to the acquisition officially confirmed the purchase to French newspaperLes Echos,revealing the French fashion brand had been sold for an estimated 8 million.
"In recent years, Balmain's trajectory has been more than impressive. 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," a Mayhoola representative said in a statement toWWD.
Thanks to Olivier Rousteing, who was appointed creative director in 2011, the historic brand is in the midst of a digital revitalization, appealing to a younger demographic through its heavy Instagram presence and close-knit relationship with celebs such as the Kardashian/Jenners, Beyoncé, Rihanna and more. Undoubtedly, Rousteing's fresh energy and has appealed to investors, who hope to expand sales and revenue as the house continues to grow.
Back in 2012, Valentino was similarly acquired by Mayhoola and has since reached its goal of billion in sales, reportsLes Echos.
Video: HOW TO SPOT Real vs Fake Balmain Jeans | Authentic vs Replica Balmain Guide
A Stefano Gabbana no le ha gustado el vestido de novia de Chiara Ferragni
January Jones Talks Spring Fashion And Beauty Essentials
13 Essentials to Layer Up (Without Bulking Up) ThisFall
How to Install Lattice
American Dream mall: Largest mall in the US is coming to Miami
How to Let Grudges Go in Hindi Why Hold Them
Skin cancer rates soar in Britain
Are You Sure Its a Food Allergy
How to Cook Rump Steak
6 Off-The-Floor Ab Exercises