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Balmain is Acquired by Qatari Firm


Italian fashion house Valentino’s Qatari owners, Mayhoola for Investments, just acquired French fashion brand Balmain for a reported $563 million.

The acquisition by Mayhoola, a fund backed by the emir of Qatar, includes 100 percent of Balmain from shareholders—including France’s Hivelin family—and paves the way for aggressive global growth.

Balmain has risen to new heights under creative director Olivier Rousteing, partially due to the Kardashian clan and other celebrity friends attired in his military-inspired designs splayed across his Instagram account, which has 3.4 million followers.

Balmain Olivier Rousteing Kardashians

The fashion house was founded by Pierre Balmain in 1945, revived by Alain Hivelin 50 years later and has grown steadily since Rousteing arrived in 2011, proffering his signature leather jackets, tight bandage dresses and lashings of gold, satin and sparkle.