Valentino’s Parent Company Is Buying Balmain

Major moves; big money.

June 22, 2016

Balmain's CEO Emmanuel Diemoz confirmed to WWD that the celebrity-acclaimed, Parisian fashion house Balmain has been acquired by a Qatar-based investment fund. According to The Guardian, Mayhoola For Investment purchased Balmain for 485 million euros, (roughly $548 million), and now holds 100% of the brand's capital. The Kardashian clan's go-to label appears to be in good hands; Mayhoola purchased Valentino back in 2012 and between 2014 and 2015 revenues were up 48%, according to Vogue UK. Balmain has been consistently on the rise with Olivier Rousteing as creative director, so keep your eyes peeled for what's coming next.

ADVERTISEMENT
More from FADER Video
Valentino’s Parent Company Is Buying Balmain