PARIS — Balmain issued a statement Thursday saying it is not considering an initial public offering on any global stock exchange.
This story first appeared in the October 18, 2013 issue of WWD. Subscribe Today.
The French fashion house, majority controlled by its chief executive officer Alain Hivelin, was responding to reports in several publications citing unidentified sources saying Balmain was considering listing on the Hong Kong Stock Exchange in 2015.
“This anonymous rumor is not true and it has no basis in fact,” the statement said, stressing that the “house can rely on its shareholders to finance its expansion.”
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Balmain noted its plans include opening its first freestanding boutique in New York City in 2014.
The company markets two ready-to-wear lines for women and men: the main Balmain collection, designed by Olivier Rousteing, and the Pierre Balmain line, licensed to Italy’s Ittierre SpA.