Balenciaga Could Reach a Billion Dollars in Annual Sales This Year
Vane
Call it a trend, fad, or whatever you want. Balenciaga is ridding the dad shoe wave all the way to the bank.
On Tuesday Balenciaga’s CEO Cedric Charbit let the world know just how much they’ve helped the brand's total profits. Even with production moving from Italy to China, the $895 unisex Triple S sneaker is still regarded as the hottest luxury dad shoe on the market.
Balenciaga is currently the fastest growing brand in the Kering portfolio, even outpacing Gucci’s first quarter 2018. Putting the brand on track to make $1.18 billion in annual sales.
“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 at a Financial Times luxury goods conference in Venice, Italy.
Is this news shocking or what you expected from the high fashion brand? Share your thoughts in the comments.
Balenciaga Could Reach a Billion Dollars in Annual Sales This Year
Source: Footwearnews
