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Lily Niu
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This isn't the first time this week we've had potentially groundbreaking fashion news; first we were told Hedi Slimane's contract at YSL had expired, then Anthony Vaccarello was named YSL's new creative director and now, French newspaper Les Echoes reports Valentino may be buying Balmain for €500 million!

However, French fashion house Balmain has had two other offers; one from a Chinese fashion group and the other from an U.S investor. These parties have chosen to remain anonymous. If these offers are indeed valid, heirs of the late Balmain chairman Alain Hivelin have been reportedly given a deadline of Thursday 7th April to decide.

That’s 2 WHOLE DAYS away - which means we could be hearing the news come Thursday morning. 

Neither Valentino nor Balmain have commented. 

Photo Credit: Flipboard Video Credit

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