Kering has appointed Pierpaolo Piccioli as the new creative director of Balenciaga, marking a pivotal moment in the French luxury conglomerate’s broader effort to stabilise and reposition its flagship fashion houses after a challenging 2024.
The group reported a 12 per cent drop in annual revenue for 2024, with widening losses at Gucci, as well as a slowdown in momentum at Bottega Veneta at Saint Laurent. Both Gucci and Bottega Veneta have recently seen creative director transitions. With Piccioli now at the helm of Balenciaga, the group appears to be pivoting towards a more romantic, couture-inflected sensibility in contrast to the conceptual disruption that defined the Demna era. Less streetwear, more high fashion.
Mr Piccioli, who exited Valentino in 2024 after more than 20 years at the Roman fashion house, will oversee all categories at Balenciaga — women’s and men’s ready-to-wear, accessories and couture. Demna’s last collection for the house will be its 54th haute couture presentation in July. Demna has spent nearly a decade at Balenciaga, catapulting the brand to the forefront of fashion discourse through a provocative blend of streetwear, subversion and cultural commentary.
The reshuffle comes as Kering faces mounting pressure
This appointment signals a notable recalibration in Kering’s strategy. Francesca Bellettini, Kering’s deputy CEO and head of brand development, highlighted Piccioli’s couture credentials in the company’s announcement, underscoring a desire to reaffirm Balenciaga’s historical association with craftsmanship and high fashion rather than controversy-led virality.
“I couldn’t be happier to welcome Pierpaolo to the Group", said Francesca Bellettini. "He is one of the most talented and celebrated designers of today. His mastery of Haute Couture, his creative voice, and his passion for savoir-faire made him the ideal choice for the House. I would also like to sincerely thank Demna for the bold, distinctive vision he brought to Balenciaga over the past ten years, shaping the House’s identity in the contemporary era. I am convinced that Pierpaolo and Gianfranco will lead Balenciaga perfectly through this important new chapter of its remarkable history.”
Mr Piccioli is renowned for modernising the Roman house’s couture language with inclusive casting and a more emotionally resonant vision. His aesthetic — lyrical, refined and deeply humanistic — contrasts sharply with Demna’s dystopian minimalism and meme-ready silhouettes.
“Balenciaga is what it is today thanks to all the people who have paved the way," Pierpaolo Piccioli stated: "In all its phases, while constantly evolving and changing, it has never lost track of the House’s aesthetic values. What I am receiving is a brand full of possibilities that is incredibly fascinating. I must first and foremost thank Demna; I’ve always admired his talent and vision. I couldn’t ask for a better passing of the torch. This gives me the chance to shape a new version of the Maison, adding another chapter with a new story.
Balenciaga has struggled to recover fully since a 2022 advertising campaign triggered widespread backlash and accusations of inappropriate imagery. While Demna maintained support from segments of the fashion establishment, the brand’s commercial and reputational momentum faltered. Piccioli’s arrival may offer the sort of quiet reset needed to restore consumer trust and creative credibility.
Balenciaga will unveil its first collection under Mr Piccioli during Paris Fashion Week in October.