Balenciaga Names New CEO

Amidst a major creative overhaul, luxury fashion house Balenciaga has brought Cédric Charbit on board as its new chief executive officer, joining newly appointed designer Demna Gvasalia. Charbit joined Saint Laurent in 2012, where he served as executive vice president of product and marketing. The Frenchman’s entrance comes at a time when Balenciaga has struggled to match the success of rival sister brands Gucci and Yves Saint Laurent, producing comparatively low-single digit sales growth in 2016. The 39-year old succeeds Isabelle Guichot, who has ended her nine-year run to take on new responsibilities at Balenciaga’s parent company Kering.