Valentino has made an offer to acquire French fashion house Balmain for 500 million euros. Balmain’s heirs has decided to find a new owner after the fashion house’s former chairman and majority owner, Alain Hivelin, passed away in 2014.
Valentino
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Britain fashion icon Sir Paul Smith revamped his company after annual profits plunged 50 percent into the lowest levels since its 40-year existence. This Is Money reported that Smith said his fashion empire needs a "kick up the backside." He said been streamlining the brand's clothing ranges, shut down to stores, and made some managers redundant. The company's pre-tax income went down £9.7million this year ending June, a decrease from last year's £20.7million.
UrgentRx named Michael Valentino as its new member of the board.
A Qatari group has agreed to buy the prestigious Italian fashion house Valentino from its private equity owner Permira.
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