The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
PARIS, France — Italian fashion house Valentino, owned by Qatar's Mayhoola for Investments, has offered €500 million (about $569 million) to buy Pierre Balmain, French newspaper Les Echos reported Sunday, citing sources.
The French fashion house, led by artistic director Olivier Rousteing, has also received offers from a Chinese group and an American investor, Les Echos said, without providing names.
The heirs of Pierre Balmain's founder, Alain Hivelin, have until Thursday to decide whether to accept one of the three offers, according to Les Echos.
Valentino and Pierre Balmain were not immediately available for comment.
By: Mathieu Rosemain; editor: Susan Thomas.
The former Gucci designer is a fashion storyteller whose maximalist aesthetic helped triple sales at the Kering-owned megabrand.
The duo behind Skims are taking a minority stake in the luxury cashmere label, with an eye on scaling the cult brand.
After headline pieces — sometimes formerly owned by celebrities or featured on TV — sell for blockbuster prices, they can end up pretty much anywhere, from museums to collectors’ closets.
Serre, who grew sales by 20 percent in 2023, has been named Pitti Uomo’s next guest designer. She’s using the opportunity to show her men’s collection for the first time.