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Vintage News | Valentino Offers $569 million for Pierre Balmain

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Claudia Schiffer, Cindy Crawford & Naomi Campbell for Balmain S/S 2016.

 

Editors Note: I don't normally post a ton of "new" news here, especially that which concerns the coming and going of designers at the various houses and take-overs. However, I have watched one of my favorite ateliers fail to re-instate and take its place as one of the great couturiers for a long time now. Given the incredible job that the new team has done over at Valentino and the way that they have pushed the house forward while at the same time staying true to the vision of Mr Valentino, I can think of no better corporation to take over Balmain. It is not that I don't love what Olivier has done, and I don't necessarily think he should be replaced, but I would like to see the house have the guidance and leadership to come back to true its haute couture roots in addition to the ready-to-wear collections. Please say vintage prayers with me that this is the course things take - it will be interesting news Thursday! xx Cherie

 

Italian fashion house Valentino, owned by Qatar's Mayhoola for Investments, has offered €500 million (about $569 million) to buy Pierre Balmain, French newspaper Les Echos reported Sunday, citing sources.

The French fashion house, led by artistic director Olivier Rousteing, has also received offers from a Chinese group and an American investor, Les Echos said, without providing names.

The heirs of Pierre Balmain's founder, Alain Hivelin, have until Thursday to decide whether to accept one of the three offers, according to Les Echos.

Valentino and Pierre Balmain were not immediately available for comment. 

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