It’s been around four years since Mayhoola For Investments bought Italian fashion label Valentino…, and now the Qatar’s investment fund has purchased French fashion house Balmain. “After completing this transaction Mayhoola for Investments will hold 100 per cent of Balmain’s capital,” said the merger and acquisitions company Bucephale Finance.
Media reports claim that Mayhoola has paid Euros 485 million or US $ 546 million to completely acquire the fashion house, which is 70 per cent held by the successors of the former CEO Alain Hivelin who died in December 2014, with the remaining 30 per cent held by management.
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Reportedly, Mayhoola will now look at development of an accessories line along with increasing international presence of Balmain, which was started in the year 1945 by designer Pierre Balmain and has passed through several hands and periods of financial trouble over the years. At present, Balmain has around 10 boutiques across the globe, including one in New York since April this year.
Qatar Fund will look forward to open stores in Middle East, and other emerging markets around the world.
