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 designer has always been an arch perfectionist, a quality that has been central to his success but which clashes with the demands on creative directors today, writes Imran Amed.
This week, Prada and Miu Miu reported strong sales as LVMH slowed and Kering retreated sharply. In fashion’s so-called “quiet luxury” moment, consumers may care less about whether products have logos and more about what those logos stand for.
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