On Tuesday June 21st, Mayhoola investment fund, which is affiliated to the Royal Family of Qatar, has agreed to purchase the French fashion brand for 485 million euros.
Though it was in trouble a few years ago, the couture house has regained momentum in 2011 as Olivier Rousteing was appointed artistic director. At twenty five, he is currently the youngest designer in the fashion industry, and one of the most popular with his 3.4 million subscribers on Instagram.
The house now has a turnover of 120 million euros and is therefore valued at 15 times its ebitda by Mayhoola fund, which - as it had done with the Italian brand Valentino in 2012 - intends to finance Balmain’s international expansion. Another evidence of Qatar's trust for the French know-how.