Pierre Bergé, the partner of Yves Saint Laurent who passed away last fall, must be turning in his grave. After Yves retired, he spent a decade predicting haute couture's demise. Instead it has rarely looked healthier.
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 has said.
French luxury conglomerate Kering scored a striking 27.1 percent growth in first quarter revenues, led by Gucci's near 40% explosion in sales. Problem child Bottega Veneta, however, suffered a further fall in revenues.
By exploring new creative directions at Dior, Louis Vuitton and Céline with three important appointments, the luxury group has deftly reshuffled its hand and is now betting on menswear, sportswear and digital.