Mayhoola for Investments to increase fashion holdings with Balmain
French newspaper Les Echos has reported today that Mayhoola for Investments has offered €485 million for Balmain, which is currently 70 percent owned by the heirs of Alain Hivelin, the company’s former CEO.
Pierre Balmain founded the label back in 1945, after several years working for Lucien Lelong, alongside both Christian Dior and Hubert de Givenchy.
Mayhoola for Investments already owns Valentino, which it bought from UK private equity firm Permira for €700 million back in 2012. It also paid £27 million for a stake in British handbag company Anya Hindmarch in the same year.
Read the June 2016 issue of Business Review Middle East magazine