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Former Valentino star designer Pierpaolo Piccioli has been appointed creative director of Balenciaga, in the latest part of a reshuffle under its owner Kering, which is working to reinvigorate demand across its top brands.
Piccioli will be tasked with starting a new chapter at Balenciaga after its critically lauded designer Demna Gvasalia, who goes professionally by Demna, was promoted to creative director of troubled Kering flagship brand Gucci in March.
In Piccioli’s 25 years at Valentino, 16 of which were spent as creative director, the Italian luxury brand was lauded for its romantic and inclusion vision, and an adept use of colour.
Balenciaga had “never lost track” of the house’s aesthetic values and was a brand “full of possibilities”, Piccioli said in a press release.
His appointment could herald a significant change in Balenciaga’s aesthetic. Under the direction of Demna and chief executive, Cédric Charbit, a brand that was once a byword for elegance was lauded for its adventurous proportions and an ironic take on luxury.
Its ready-to-wear and relaunched haute couture lines were a hit with both critics and mainstream celebrities, including the Kardashians. Accessories such as Balenciaga’s Triple S sneaker and knit Speed trainers sold well with consumers.
However, Kering is suffering amid a broader luxury downturn. The French group’s revenues declined 12 per cent to €17.2bn last year as a turnaround stalled at Gucci, which accounts for about half of group sales and two-thirds of profits.
While Kering does not break out Balenciaga’s performance, analysts at Citi estimate that the brand’s sales have declined from €2bn at its peak to 2022 to €1.5bn last year.
Balenciaga took a hit in late 2022 after a campaign showing children holding teddy bears in what appeared to be bondage gear led to Kim Kardashian distancing herself from the brand and Fox News’s Tucker Carlson accusing the brand of promoting paedophilia.
That tarnished Demna’s record and contributed to a steep drop in Kering’s share price when he was appointed creative director of Gucci. The Paris-listed group’s shares fell as much as 12 per cent the following day.
Piccioli’s record suggests he will be a safe pair of hands. The Italian designer, who left Valentino early last year, won plenty of critical admirers and celebrity backers, including Ariana Grande and Florence Pugh, during his tenure.
However, Valentino struggled to develop a successful leather goods business after its hit Rockstud shoe in the early 2010s. Piccioli was succeeded by ex-Gucci designer Alessandro Michele.
Piccioli will take up his new role at Balenciaga on July 10 and his first collection will debut at Paris Fashion Week in October.
