“ After this transaction, Mayhoola for Investments will hold 100% stake in Balmain ” confirmed Bucephalus Finance, which specializes in advising on mergers and acquisitions, without revealing the amount of the sale of the flagship of the fashion and luxury to the French.
The entrance to the capital of Mayhoola, an investment vehicle backed by the Emir of Qatar, “ allow the brand to accelerate its development, particularly with the opening of new shops International “added Bucephalus in a statement.
The business daily Les Echos said on his part that Qatar offers “ 485 million euros ” to seize Balmain, 70% owned by the heirs of former CEO Alain Hivelin death in December 2014, and 30% by management.
The offer from Qatar is higher than expected estimates (300 to 400 million euros).
The house Balmain, founded in 1945 by fashion designer Pierre Balmain, which has an annual turnover of 120 million euros, is seen as “ valued no less than 15 times its ebitda “(note: EBITDA, a measure of profitability), the newspaper said.
“ With the financial support of Qatar, Balmain, who now has eight stores worldwide, including one in New York since April, so hopes to follow the same trajectory (note: Valentino) thanks to its expansion in the Middle East and the United States , “explained Les Echos.
The heirs had authorized in February the company specializes in financial consulting Bucephalus Finance to find a buyer.
Many investors were in the running, including French fund L Capital, the Anglo-Saxon like Permira, or Asian, such as Hong Kong’s Li Ka-Shing, the newspaper said.
On the death of founder Pierre Balmain (in 1982), it was bought by a Canadian industrialist, then sold to a former executive of LVMH, Alain Chevalier, to be located a little over a year after in receivership.
The brand was then taken over by Alain Hivelin.
The arrival in 2006 of Pierre Decarnin, a former fashion designer Paco Rabanne, had revived the fashion house, attractive stars, Marion Cotillard Gwyneth Paltrow.
Since 2011, the house gaining momentum under the leadership of its young creative director Olivier Rousteing which relies heavily on communication via social networks.
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