Balmain

The Pierre Balmain brand has ranked alongside fellow French fashion greats such Christian Dior and Hubert de Givenchy, and even Karl Lagerfeld worked for Balmain. Balmain launched his brand in 1945, after World War 2 had ended. His style was so popular it even became a favourite of both European and Hollywood royalty including Audrey Hepburn, Ava Gardner, Josephine Baker, Katherine Hepburn, Marlene Dietrich and Sophia Loren.

In 1982, Pierre Balmain died and various designers had periods working for the brand including Oscar de la Renta.

In 2004, with less than £8 million turnover and significant losses, Balmain was forced to file for bankruptcy. Would the outlook for the brand have been any different if LVMH had purchased it to rank alongside its mainstay fashion labels like Dior and Givenchy? Why did LVMH decide not to acquire the brand?

Soon after Balmain filed for bankruptcy in 2004, a Wonder Boy took its creative helm. He gave the brand a complete overhaul, disregarding the Pierre Balmain legacy altogether. Wonder Boy 1 replaced the brand’s traditional collections with glitz, glamour and sexuality. The new design strategy meant that the French elite couldn’t get enough and Balmain was on the road to recovery.

Then enter Wonder Boy 2, bringing a massive social media following and celebrity clout to the brand. Balmain’s position in the world of luxury fashion began to look very positive indeed. Not long after, a big investor with high hopes purchased the French label. Unfortunately, not everything is going as planned.