Balenciaga is set to make over €1 billion revenue this year
Image via Balenciaga
Words by Sarah Pradolin
Cash in.
Leaving little doubt about the world’s obsession with luxury brands, Balenciaga is on its way to making €1 billion in annual earnings this year.
The unsurprising news follows reports in 2018 that Balenciaga had become Kering’s fastest-growing brand. In other words, over the past two quarters, it has grown at a faster rate than Gucci.
Demna Gvasalia’s arrival in 2015 has brought enormous success, with the designer opening up the brand’s offering to a younger consumer base and developing a balanced aesthetic of luxury streetwear. Today, millennials make up a huge 60 per cent of sales.
According to 2018 reports, Balenciaga follows closely behind Saint Laurent in terms of revenue, while Gucci still holds the top spot at €8 billion.
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