×
293
Fashion Jobs
NETE.IN
CRM & Logistics Executive
Permanent · MUMBAI
FABINDIA OVERSEAS PVT. LTD.
Retail Planner
Permanent · NEW DELHI
SELECTIVE GLOBAL SEARCH PVT. LTD.
Business Development
Permanent · NEW DELHI
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · KARIMNAGAR
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · MIRYALAGUDA
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · KOTHAGUDEM
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · NAGARKURNOOL
LIFESTYLE BRANDS
Area Sales Manager Bangalore
Permanent · BENGALURU
HIRING STUDIO
Chief Financial Officer
Permanent · HOSAPETE
RJ CUBE STAFFING SOLUTIONS
Storekeeper
Permanent · DELHI
ORIENT CRAFT LTD.
Production Incharge
Permanent · NEW DELHI
GETNATTY DESIGNTECH PVT. LTD
Business Development & Sales Specialist
Permanent · MUMBAI
CONSULT IN INDIA
Area Sales Manager- (South & West Region)
Permanent · Kota
ADECCO INDIA PRIVATE LIMITED
e Commerce Executive :Garments Company:Kolkata
Permanent · Kolkata
NCDI PLACEMENT CONSULTANCY
Sales Coordinator (Male) For Leading Retail Store
Permanent · Lucknow
2COMS CONSULTING PVT LTD.
Area Sales Manager Knitwear/ Innerwear
Permanent · Mumbai
SEARCHLIGHT HR SERVICES PVT. LTD
Sales Manager- Fragrances
Permanent · Chennai
KEYSTONE CONSULTING PVT LTD
Business Development - Textile Company
Permanent · Coimbatore
JOB SEARCH
General Manager - Mumbai & Delhi Exp in Textile Testing Industry Only
Permanent · National Capital Region
JOB SEARCH
sr. Executive - Accounts & Finance - Vile Parle
Permanent · Mumbai
CAREER CROSSWAYS
Export Marketing Manager
Permanent · Ahmedabad
TEJASWI SERVICES PVT LTD
Business Development Executive
Permanent · Mumbai

Men and millennials propel sales boom at Kering's Balenciaga

By
Reuters API
Published
today May 23, 2018
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Men and young millennial shoppers are the main drivers of a sales explosion at Balenciaga, with the storied couture firm turned edgy label now posting the fastest growth rates within the Kering group, its CEO said on Tuesday.


Balenciaga campaign photo for Fall '18 - Instagram: @balenciaga


Millennials, the generation born between the early 1980s and mid-1990s, are fuelling growth across the luxury goods industry, accounting for about a third of global sales, though brands are fighting for attention from these shoppers.

Men's fashion, meanwhile, has typically contributed less to luxury brand earnings than women's clothing and accessories, but an emphasis on high-end casualwear at many labels as well as a push to sell online has begun to fuel growth in this segment.

"Millennials represent 60 percent of what we sell. Together with men, these are growing faster than any other (category)," Balenciaga CEO Cedric Charbit told a Financial Times luxury goods conference in Venice, Italy.

The 101-year-old label, once known for its structured haute couture dresses by founder Cristobal Balenciaga, does not break out earnings, though Kering boss Francois-Henri Pinault has flagged it will reach 1 billion euros (£877 million) in annual sales of its fashion, shoes and handbags in the medium-term.

Still dwarfed by stablemate Gucci, with 6.2 billion euros in revenue in 2017, Kering said Balenciaga was its fastest-growing brand in the past two quarters, trumping the Italian label's 49 percent rise in comparable sales in the January to March period.

Under Georgian designer Demna Gvasalia, hired in 2015, Balenciaga has embraced logos and streetwear looks like hoodies, while still experimenting with textures and silhouettes in futuristic or glamorous styles.

Charbit said Balenciaga was growing fast, including more than 100 percent in some cases, across all areas, from handbags to clothing, even though the brand has become known for its $850 thick-soled "Triple S" sneakers.

"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," Charbit said.

The brand is among several increasingly courting male shoppers as a fresh growth avenue as luxury goods spending, especially by Chinese consumers, rebounds. Some rivals like Louis Vuitton, owned by LVMH , have recently changed menswear designers.
Kering finance director Jean-Marc Duplaix said in April Balenciaga was extending its men's business, without detailing how.

© Thomson Reuters 2019 All rights reserved.