The Future of Balenciaga Is on the Line (Published 2023) (2024)

FAQs

How is Balenciaga doing after the scandal? ›

Balenciaga is counting primarily on its A-list influencers to bring it back from the dead because the fashion it showed probably won't do it. Its latest show was more an homage to things we've seen before rather than brand-new, original-inspired designs.

Shoppers aren't splurging on Gucci bags or Balenciaga shoes like they used to, and the "roaring 20s" of the post-COVID boom might be over. Signs of slowdown in the luxury industry began with easing sales reported at LVMH, the parent company of Louis Vuitton and Christian Dior.

The Start of a Comeback

Fast forward to March 2023, and signs of a comeback for Balenciaga and its creative director Demna – who managed to remain in his role amid the fallout, as did CEO Cédric Charbit – seemed to be quietly coming about.

Balenciaga has launched the all-new “It's Different” Fall/Winter 2023 campaign, celebrating all of the signature shapes in its ever-evolving design house with a tongue-in-cheek approach that mirrors the brand's new social media strategy.

They have lately managed the rarest of accomplishments, emerging from near cancellation a year ago, not unscathed by the scandal that followed a misguided ad campaign, but successful in having saved the brand from the brink while keeping their jobs.

Kidman, who walked in the house's well-received 2022 couture show, was also named an ambassador this past weekend. Still, the third-quarter report for Kering, the conglomerate that owns Balenciaga, said that sales of “Other Luxury,” which includes Balenciaga, were down 15 percent.

The backlash against the images was swift, with the hashtag #cancelBalenciaga trending across Twitter and TikTok and many accusing the brand and its creative director, Demna, of condoning pedophilia and child exploitation.

The tension surrounding Balenciaga unfolded in November 2022 after it released a "Gift Collection" holiday campaign on social media. The advertisem*nt featured young children holding teddy bears outfitted with bondage gear.

Key players and celebrity supporters helped Balenciaga pull off a near complete renaissance from the ashes of scandal. It looks like Balenciaga's crisis strategy team has pulled off a near complete resurrection of the brand from the ashes of scandal.

Kering (French: [kɛːʁiŋ]) is a French-based multinational corporation specializing in luxury goods. It owns the brands Gucci, Balenciaga, Bottega Veneta, Yves Saint Laurent, Creed and Alexander McQueen.

When did Balenciaga shut down? ›

The closure of Balenciaga's fashion house in 1968, and his death four years later, marked the end of an era. Yet the master's innovative pattern cutting, use of new materials and bold architectural shapes have remained greatly influential.

Even more important, however, were changes to the fashion industry itself. Cristóbal Balenciaga, the reigning leader of Paris couture, closed his house in 1968, lamenting that it had become impossible to design true couture. Although he was clearly frustrated, Balenciaga's work from the 1960s is exceptional.

Market Slowdown. Sales at Yves Saint Laurent and Kering's Other Houses division — which includes Balenciaga and Alexander McQueen — both fell by 6 percent, confirming that none of the group's brands has been exempt from a broader slowdown in the luxury market, particularly among aspirational clients.

Balenciaga is now owned by Kering and its womenswear and menswear was headed by Nicolas Ghesquière. In 2002, Balenciaga's star, Nicolas Ghesquière, imitated the work of Kaisik Wong, a designer from San Francisco. Ghesquiere created a patchwork vest in his spring collection that resembled one that Wong designed in 1973.

In all measured dimensions, the brand scores best among Generation Z, be it brand awareness, popularity, ownership, brand loyalty or media buzz. Following Genz Z in all brand KPIs for Balenciaga are Millennials, the second youngest generation in the survey.

Balenciaga Is Starting Over. Balenciaga, once the hottest fashion brand in the world, became a four-letter word by December 2022. Wracked by scandal, Balenciaga's sales dipped and stores were vandalized as it was toppled mightily from its previously unshakeable throne.

Cristóbal left Balenciaga in 1968 but Demna's Balenciaga couldn't afford to be quiet for ever. It's still a business, and this is the brand's first collection since November's controversial advertising campaign that saw sales drop dramatically, where children were photographed holding teddy bears in bondage gear.

Shortly after, Balenciaga sent out a statement from CEO Cédric Charbit, who took full responsibility for the controversy.