Right when Balmain was becoming a household name for those outside of the French fashion world, it seems things are perhaps getting a little rocky for Rousteing and his crew.
Reportedly, the heirs of Alain Hivelin (who was the chairman and majority owner of Balmain) have decided to give up control of the brand, French newspaper Les Echos reported Thursday.
According to the report, the family has been working with an investment bank for the buying of the company, looking at roughly 300-400 million dollars worth in value. If the sale goes through, the relatives of the family (who own the remaining 30 percent stake in the company) will also be advised to sell their shares. French, British and Asian investors have reportedly expressed interest.
Since 2011 after the appointment of Olivier Rousteing as creative director, the historic fashion house — founded by eponymous designer Pierre Balmain in 1945 — has risen to prominence due to tactile connections to high-profile celebrities such as the Kardashians and social media presence as Olivier as the “everyday, common man” living a fashionable man’s dream.
What do you think of the reports of Balmain’s sale?