High Fashion Sibling Rivalry
Accessories, bags and clothing have been a great growth generator for the luxury fashion house, but the Triple S sneaker has made Balenciaga the hottest brand this financial quarter and the fastest growing brand within the Kering family.
A unique balance of great design and merchandising has been a recipe for success for Balenciaga. Speaking at a conference in Venice, Italy, Cedric Charbit, Chief Executive of the Kering Group which is home to high-fashion labels such as Saint Laurent, Alexander McQueen, as well as Gucci & Balenciaga said “Millennials represent 60 percent of what we sell. Together with men, these are growing faster than any other (category).”
On the love for the Triple S sneaker, he went on to say “There’s not a dinner I go to where a father or someone (doesn’t) say ‘stop releasing these shoes, it’s out of control, we spend too much money at Balenciaga’, which I’m very happy with,”
Gucci also continues as one of the best selling brands, sitting only second to Balenciaga on Lyst’s ranking index.