21 June 2016

Fashion house Balmain sold to Qatar’s Mayhoola sovereign wealth fund

Fashion house Balmain sold to Qatar’s Mayhoola sovereign wealth fund

21 juin 2016
The Guardian
The Qatari investment fund that owns the Italian Valentino label will take over the French fashion
house Balmain, which has become a favourite of film stars, the adviser for the acquisition has
announced.
“After completing this transaction Mayhoola for Investments will hold 100% of Balmain’s capital,” said
the merger and acquisitions company Bucephale Finance.
The French financial daily Les Echos in reporting on the acquisition said the Qataris offered €485m
(£372m) for Balmain, which is 70% held by the heirs of the former CEO, Alain Hivelin, who died in
December 2014, with the remaining 30% held by management.
H&M’s Balmain launch prompts scuffles on Regent Street
The reported Qatari offer was higher than sale estimates of between €300m-€400m.
Mayhoola is an investment vehicle supported by the emir of Qatar.
Balmain was started in 1945 by designer Pierre Balmain and has passed through several hands and
periods of financial difficulty over the years.
In 2006 Pierre Decarnin, a former stylist at Paco Rabanne, came on board and relaunched the brand,
attracting movie stars like Marion Cotillard and Gwyneth Paltrow.
Since 2011 Balmain has gained added momentum under artistic director Olivier Rousteing.