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Fashion House Balmain Purchased by Qatar-Based Mayhoola

The French luxury brand will join Valentino under the Qatar investment firm.

In a deal reported to be worth over €450 million, luxury French brand Balmain has been acquired by the Qatari investment group Mayhoola. Balmain is under the lead of Creative Director Olivier Rousteing, one of the industry’s most respected figures and a favorite amongst celebrities like the Kardashians and the Hadids. With the purchase, Mayhoola will control 100% of the label — the partnership plans to push for aggressive growth in the global market, as well as boost Balmain’s popularity. The luxury house will join Valentino and Pal Zileri under the Mayhoola controlling umbrella.

SourceWWD
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