Owned by Qatar’s Mayhoola for Investments, the Qatari royal family, Valentino is said to have offered €500 million to acquire Pierre Balmain, whose annual revenue is estimated at around €30 million.

Two other unnamed investors from China and the U.S are also said to have made an offer to the heirs of Balmain’s former chairman and majority owner, Alain Hivelin.

Pierre Balmain’s leather shoe collections are manufactured by Stella International Holdings.