Fashion house, Pierre Balmain, could have a new owner by the end of this week. Valentino, the Italian brand, is proposing €500 million (AUD$749 million) to buy the French label.
Valentino, owned by Qatar-based investment group Mayhoola, has been named the top bidder of three companies interested in acquiring the brand. The heirs of Alain Hivelin – Balmain’s founder, who passed away in 2014 – has until Thursday to decide whether to accept an offer, if any.
It was announced in February that the company’s owners were seeking sale in an attempt to expand the business. It is the dying wish of Alain Hivelin, that the brand remain in the luxury market, keeping the House of Balmain at the forefront of the fashion industry. It makes sense that the owners would want outside capital to continue the expansion of their brand.
Creative Director Olivier Rousteing has brought increased awareness of the brand with loyal celebrity ambassadors and a massive social media following, since named as label designer in 2011. The house’s sales have grown since his appointment, though not dramatically, with an annual revenue of $45 million (Approx. AUD), according to Business of Fashion.
Rousteing’s social media presence has attributed to Balmain’s risen profile and newfound interest. Rousteing is influenced by the unique styles of today’s modern woman, as well as the work of Balmain designers before him, but how would this offer affect the brand?
Valentino’s brand promises a step forward in the right direction for Balmain. Valentino offers a wide range of luxury products with a contemporary and sophisticated vision, which fall in line with Balmain’s overall image. The designers at the helm of Valentino have been instrumental in enhancing the brand’s relevance and future potential.
The future of the brand is less dependent on the owner, but more the designers, sitting in the driver’s seat. It will be interesting to follow the progression of each label, and if it stays true to the vision of the founders before them.
Only time will tell.