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Named as the ‘hottest brand in fashion’, luxury label Balenciaga says growth is spread across all areas, including in its footwear and handbags product lines.
In conversation with Jo Ellison, Fashion Editor of the Financial Times, during the 11th FT Business of Luxury Summit held in Venice, Italy, on May 20-22, Cédric Charbit, CEO, Balenciaga, said that "Millennials represent 60% of what we sell. Together with men, these are growing faster than any other category”.
Becoming one of French luxury conglomerate Kering’s fastest growing labels, Charbit said that, Balenciaga’s growth reaches 100% in some cases and across all areas, from handbags to clothing. The 101-year-old label does not publish its earnings, but it is expected to reach €1 billion in annual sales in the medium-term, according to Francois-Henri Pinault, Chairman and CEO, Kering.
Source: Business of Fashion