The French Label Balmain Just Turned Qatari!
The Qatari investment fund Mayhoola has apparently acquired French label Balmain. Although the talks have been confidential in nature, the Balmain company has been valued at a whopping $700 million. Balmain has been on the market for a few months now, and appears to have been grabbed by the Qatari firm.
Mayhoola, which means ‘unknown’ in Qatari Arabic, also owns Valentino which it purchased four years. The rumor mill has it that Mayhoola will merge the two companies Valentino and Balmain under a single umbrella then list it publicly.
The Balmain label, which came close to bankruptcy in 2004 saw a true resurrection under the creative eye of Olivier Roustieng. The remarkable change in fortune, with over 130 million euros in sales in 2015 is credited to the 30 year old’s modern approach to business. The now historic H&M x Balmain collaboration one of many firsts, not just for Balmain but for the luxury fashion industry as a whole.
With what we predict to be a huge influx of cash by the new Qatari owners, it would be interesting to see how Balmain will blossom in the next few years…