Is Valentino Buying Balmain?

Valentino is rumoured to have made an approach to acquire Balmain, a French newspaper has claimed this weekend. Reports in Les Echos state that the French luxury label has offered €500 million for the much-talked-about brand, helmed byOlivier Rousteing.

Owned by Qatari investment vehicle Mayhoola, Valentino has some competition for the takeover of the brand, with an unnamed "Chinese group and an American investor" also providing solid offers, The Fashion Law reports. The company's founding family - now represented by the heirs of Balmain's former chairman and majority owner, Alain Hivelin - are said to have until Thursday to decide whether to accept any of the three offers.

Balmain's profile has risen exponentially over the past five years since Rousteing took the helm from former creative director Christophe Decarnin. The first designer to reach a million followers on Instagram, Rousteing's youth and gaggle of famous fans, who he christened the "Balmain army" - teamed with anH&M collaboration in 2015 that brought global awareness - have attributed to a newfound interest in the storied French house, founded by Pierre Balmain in 1946.

Les Echos reports that Bucéphale Finance, a French investment bank, was given a sale mandate by the family with the view that the house should be sold for between €300 and €400 million. Balmain's annual revenue is estimated to amount to €30 million.