As the month opens with a whirlwind of movements that have reshaped structures at major fashion houses, one rumor rises up from the sea of exits and appointments as Les Echos reports the possibility of Valentino acquiring Balmain. According to the French publication, the former has approached the latter with a €500 million offer to obtain the label headed by French designer Oliver Rousteing.
Cindy Crawford and Claudia Schiffer star in Balmain's Spring/Summer 2016 camapaign.
The report also claims that Balmain’s founding family, represented by the beneficiaries of Alain Hivelin, the label’s former chairman and majority owner, have been given until Thursday (the 7th of April) to decide whether they will accept or decline. Two other companies, an unnamed Chinese group and American stakeholder, have also shown interest in the label whose annual revenue is estimated at €30 million. Additional reports claim that the family has given a sale mandate to French investment bank Bucéphale stating that the brand ought to be sold for between €300 and €400 million.
No final statement has been released by Balmain regarding the possible takeover. However, they are happy to introduce Zayn Malik as the newest addition to Olivier’s growing #BalmainArmy. The designer says of the former One Directioner,
“I love the way he is evolving. He is someone who has all the potential and the strength to become a champion.” – Olivier Rousteing.ADVERTISEMENT - CONTINUE READING BELOW
Olivier is responsible for Zayn’s outfit—a double breasted jacket with brass buttons and sharp shoulders—at the iHeartRadio Music Awards where he performed his new single “Like I Would.”
Photos from @balmain on Instagram