Balenciaga is now Kering’s fastest-growing brand
Images via Balenciaga
Words by Tara Smith
Look out Gucci.
In news that will surprise no one, Balenciaga has overtaken Gucci as the fastest growing brand in the Kering group.
According to Reuters, men and millennial shoppers are the main drivers of sales at the brand.
“Millennials represent 60 per cent of what we sell. Together with men, these are growing faster than any other [category],” Balenciaga chief executive, Cedric Charbit, told Financial Times in a conference.
Kering CEO, Francois-Henri Pinault, has claimed that Balenciaga is on track to reach one billion euros in annual sales of fashion, shoes and handbags. The brand has grown at a faster rate than Gucci for the past two quarters, despite Gucci still holding the top spot for revenue at 6.2 billion euros in 2017.
Look out Gucci.
Liked this? You’ll love these...
