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Posted On: 5 April 2016 06:26 am
Updated On: 12 November 2020 02:16 pm

Qatari-owned Valentino offers $569m for Pierre Balmain

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Italian fashion house Valentino, owned by Qatar's Mayhoola for Investments, has offered 500 million euros ($569 million) to buy Pierre Balmain, French newspaper Les Echos has reported, citing sources.

The French fashion house, led by artistic director Olivier Rousteing, has also received offers from a Chinese group and an American investor, Les Echos said, without providing names.

The heirs of Pierre Balmain's founder, Alain Hivelin, have until Thursday to decide whether to accept one of the three offers, according to Les Echos.

Valentino and Pierre Balmain were not immediately available for comment. (Source)