86
Fashion Jobs
SHISEIDO
K-Key Account Lead
Permanent · HO CHI MINH CITY
ADIDAS
Senior Director Product Creation Ftw
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Corporate Affairs & Reputation Manager - Corporate Affairs & Engagement
Permanent · HO CHI MINH CITY
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
By
Reuters API
Published
May 23, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Men and millennials propel sales boom at Kering's Balenciaga

By
Reuters API
Published
May 23, 2018

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 2024 All rights reserved.