Balmain (fashion house)
Pierre Balmain S.A. (French: [balmɛ̃]), trading as Balmain, is a French luxury fashion house that was founded by Pierre Balmain (1914–1982) in 1945.
Company type
It operates over 50 stores. Its primary flagship is located on Rue Saint-Honoré in Paris.[1] Additional flagship locations are in Tokyo, New York City, London, and on Via Montenapoleone in Milano.[2][3] This includes six stores in the United States including in on Madison Avenue in New York City, Bal Harbour, Las Vegas, and Melrose Place in Los Angeles.[4]
Balmain was acquired by Qatari Crown investment firm Mayhoola for Investments for a figure reportedly close to €500 million ($548 million) in 2016.[5] Prior to the deal, Balmain was 70 percent controlled by heirs of Alain Hivelin. The company does not regularly release financial information, but Les Echos estimated its revenue in 2015 at €120 million (about $136 million), growing from an estimated €30 million (about $34 million) in 2012.[6][7] Balmain expected to reach a revenue of €150 million in 2017, 90% of which is generated by the wholesale channel, and is also putting more effort into direct retail.
History[edit]
Pierre Balmain, 1945–1982[edit]
Balmain was born in 1914 in France. His father owned a drapery business and his mother and sister owned a fashion boutique where he often worked after his father's death in 1921. He attended the École des Beaux-Arts in 1933–1934, with intent to study architecture but instead ended up spending the majority of his time designing dresses. After working for atelier Robert Piquet as a freelance artist and spending time with Edward Molyneux, he left school to work for Molyneux. In the late 1930s, he served in the French air force and the army pioneer corps. After peace was declared, he worked at Lucien Lelong and opened his own fashion house under his name[8] at 44, rue François 1er in Paris. He released his first collection in October 1945 and his first fragrance, Jolie Madame in 1949.[9][10]
From 1947 to 1976 Balmain's directrice (director) was Ginette Spanier.[50] Alain Hivelin was chairman and majority owner of Balmain starting in 2004 until his death in 2014.[51]
In popular culture[edit]
In 1969, singer/songwriter Peter Sarstedt hit the top 40 with the song "Where Do You Go To (My Lovely)?". In the first couplet he sings about Balmain: "You talk like Marlene Dietrich and you dance like Zizi Jeanmaire. Your clothes are all made by Balmain and there's diamonds and pearls in your hair - yes there are."