Kering says Balenciaga creative director exits amid broader leadership overhaul

Traders Union
All News
Business & Wealth
Companies
Balenciaga director exits at Kering

Highlights

Kering announces Balenciaga creative director Piccioli exits less than a year after replacing Demna, amid wider leadership shake-up.
Recent departures also include Saint Laurent creative director Anthony Vaccarello and Alexander McQueen's Sean McGirr, indicating major restructuring at Kering.
Kering faces intensifying pressure from persistent sales declines and weak global demand, heightening investor focus on Balenciaga’s pending new creative leadership.

Balenciaga succession plan takes shape

As reported by Reuters, Kering says Piccioli is stepping down from Balenciaga after taking over as creative director in July last year, when he replaced Demna following Demna's move to Gucci. Piccioli had spent 25 years at Valentino before joining Balenciaga.

The change marks the latest in a string of top creative reshuffles at the French luxury group. Only weeks earlier, Saint Laurent creative director Anthony Vaccarello and Alexander McQueen designer Sean McGirr also left their posts.

Kering CEO Luca de Meo calls Piccioli "an exceptional couturier and creative talent" and says the group wants to build on Balenciaga's avant-garde identity, honour its heritage and keep pushing creative boundaries. The company adds that Balenciaga's new creative direction will be announced shortly.

Luxury slowdown adds pressure on Kering

Management changes are unfolding as Kering seeks to revive performance after years of falling sales. De Meo launched cost-cutting measures earlier this year, but the economic fallout from the war in Iran and weaker consumer sentiment in China have so far eclipsed signs of recovery.

Market attention is now turning to who takes over at Balenciaga and what that could mean for the label's positioning within Kering's portfolio. U.S. online media outlet Puck reports that British-Jamaican designer Martine Rose is set to replace Piccioli, though Kering declines to comment on that report.

Our earlier coverage of the World Trade Organization’s outlook highlighted how the wars in Ukraine and the Middle East are reshaping global trade, prompting companies to reroute shipping and redesign supply chains for greater resilience despite higher costs. The WTO warned that trade in the Middle East has contracted sharply amid the Iran war, with exports and imports expected to fall significantly, even as AI-related demand helps cushion global merchandise trade growth forecasts.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.