Qatari Fund Buys Balmain Fashion House 22 Juin 2016 Financial Times

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Qatari fund buys Balmain fashion house 22 juin 2016 Financial Times Mayhoola for Investments, the Qatari fund that owns Italian fashion designer Valentino, has agreed to buy Balmain, the French family-owned fashion house. The terms of the deals were not disclosed immediately, but people with knowledge of the bidding process previously valued Balmain at as much as €500m. Mayhoola, “an investment vehicle backed by Qatar’s emir, will allow the brand to accelerate its development, notably with the opening of new stores abroad,” said Bucephale Finance, the Paris-based mergers and acquisitions boutique that advised Balmain’s shareholders, in a statement on Tuesday evening. Mayhoola, which means “unknown” in the Qatari dialect of Arabic, is widely believed to be a vehicle for Sheikha Moza bint Nasser as-Missned, the mother of the Qatari emir, Sheikh Tamim. In 2011, the secretive fund bought Valentino, the Roman haute couture house, from private equity firm Permira, for about €700m. A person with knowledge of the Balmain talks but who was not directly involved said that Mayhoola’s plan was to combine the two brands under one umbrella and eventually list the group. Mayhoola has also spent a reported £27m for a stake in handbags maker Anya Hindmarch. Balmain was founded in 1945 by French designer Pierre Balmain. It was bought by Alain Hivelin in 1995. In 2011, the French house appointed Olivier Rousteing, then 25, as artistic director. The company had attracted bids from other private equity funds, including L Capital, the LVMH-backed investment firm. Private equity funds have sought to snap up European fashion brands that can be exported to fast-growing markets such as China. Roberto Cavalli was bought by Italian firm Clessidra last year. In 2014, Blackstone, the New-York-based fund manager, purchased a 20 per cent stake in Versace. .

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Valentino’s Qatari Owners Acquire French Fashion Brand Balmain 22 juin 2016 Bloomberg - Mayhoola for Investments said to pay as much as $563 million - Fashion deal is second this week by Middle Eastern investors Mayhoola for Investments, an investment fund backed by the emir of Qatar, acquired French fashion house Balmain, adding a brand favored by Kim Kardashian to a roster of labels that includes Italy’s Valentino. Financial terms were not disclosed, though a person familiar with the matter said Mayhoola agreed to pay close to 500 million euros ($563 million). The acquisition of 100 percent of Balmain from shareholders including France’s Hivelin family will allow the brand to accelerate its development by opening new stores around the world, advisers Bucephale Finance said in a statement late Tuesday. Balmain has become one of the most talked about fashion brands under creative director Olivier Rousteing, whose Instagram account is peppered with images of reality-television star Kardashian and her family wearing his military-inspired designs. The fashion house, founded by Pierre Balmain in 1945 and revived in 1995 by Alain Hivelin, has enjoyed strong growth since Rousteing joined in 2011, according to the statement. Mayhoola, which describes itself as a Qatari company focused on local and global investments, also owns Valentino, which is considering selling shares in an initial public offering as early as next year after nearly doubling profit on revenue of more than $1 billion in 2015. Mayhoola didn’t immediately respond to a request for comment. The acquisition of Balmain is the second fashion deal this week by Middle Eastern investors after Bahrain investment house Investcorp Bank BSC purchased 55 percent of Italian luxury menswear maker Corneliani SpA.
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