Balmain ends agreement with Ittierre

Fashion house Balmain announced the early

termination of its agreement with Ittierre. The company was the Italian manufacturer that produced the secondary sub-brand of Balmain, known as Pierre Balmain.

In July 2011 a contract was signed between both companies which stipulated that production for Pierre Balmain would end in 2016.

However Balmain announced today that “due to an early termination of the agreement between Paris' House of Balmain and Ittierre, Balmain has assumed complete control of the production and distribution of the Pierre Balmain collection.”

Pierre Balmain is still on schedule to show its women's and men's collections for Fall/Winter 2014, Balmain added.

Ittierre declined to comment on the reasons behind the early termination and has asked the Court of Isernis to put together a payment scheme for creditors and help find a potential financial backer.

This announcement comes not long after Ittierre announced this fall that it was currently reviewing its portfolio of license and examining options to reorganize its structure.