Balenciaga Could Reach a Billion Dollars in Annual Sales This Year

Vane

Balenciaga is laughing all the way to the bank.

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

Comments (3)
C Brown
C Brown

Yea G...got to add a little me context to that statement...Im sure Charbit was talking about ALL shoes (most likely Womens shoes which cost a damn mortgage payment) rather then specifically Triple S's....I think Dad shoes are still very Niche market at this point....When Zara and HM start pumping them out then maybe...just maybe it could mean something....

G-Roc
G-Roc

Editor

I'm not sure if I should be surprised or not. I def can't front, I have seen a lot of people wearing the Triple S sneaker. But of course these numbers don't purely reflect Triple S sales. Impressive tho.