Let's Address the Elephant in the Room.......Yep...... Balenciaga (GASP)
It’s now been about 6 months since Balenciaga literally shot themselves in the foot. And you may be asking yourselves, why are you talking about that brand, shame on you! Well, one because Balenciaga was or really still is one of the biggest designer brands in the world. Yes, I know what they did, and I also know what Gucci did and what Dolce and Gabbana did, and how Coco Chanel was a Nazi and yet here we are! Let me say this, NO I do not agree with the campaign, it was downright idiotic and yes, I do agree that Demna should have been fired. Now that I have gotten that out the way, my curiosity got the best of me. I really wanted to know, were people still in an uproar, how the sales were doing, how the runway show went. Sorry, I couldn’t help myself and love fashion news.
Let’s take a look at how they are currently doing. But before we can do that, let me educate you a little bit, and some of you may know this, but Balenciaga is not owned by Balenciaga, it is owned by Kering. Kering also owns Gucci, Saint Laurent, Bottega Veneta, Alexander McQueen, Brioni, Stella McCartney, Puma and other brands. On a side note, Salma Hayek’s husband Francois-Henri Penault is the CEO of Kering and he’s a billionaire, that’s your useless piece of information for the day. So, when people say, I’m boycotting Balenciaga, I’m only buying Gucci or Saint Laurent, sorry to burst your bubble but you’re still buying from Kering and, kind of, if you look at it supporting Balenciaga because they support Balenciaga. And yes, I do know that Kering doesn’t technically run the company and they have their own CEO, Cedric Charbit. It’s like when people got mad at Nike over Colin Kapernick and said they would no longer buy them. Nike also owns Converse, Hurley, and of course Jordan, and at one time they owned Cole Hahn. Yes, Balenciaga did see a loss in profits because of said scandal, but Kering was affected. When looking at profits and losses, Kering lost 7% in revenue, which is about $5.6 billion dollars. Now, obviously that total is not all Balenciaga, and you may be surprised but Gucci saw the biggest drop in sales. While my love, Saint Laurent, had an increase, boo ya!
Are people still in an uproar?? I would say, kind of. There are some who still don’t support the brand, calling them pedophiles, while there are others who do, and want to move past it, saying they couldn’t wait to see what was next for the brand. For their Fall/Winter 23 fashion show, there was not one celebrity that attended, but you know that’s because they didn’t want to face any backlash, but 700 people did attend, which was an increase from the past shows.
So what is going on with them right now? Well, I think they are still trying to salvage themselves, at one point they had wiped their Instagram clean and deleted their Twitter. After things seemed to have calmed down a bit they posted pictures of the F/W collection, now it seems that they have restored some older random pictures and pictures of clothing from their Summer 23 collection. The new F/W collection was also very tame compared to what was done in the past even though Demna said he was working on this collection before the scandal. Then they partnered wit the National Children’s Alliance and made the promise to “facilitate a significant increase in access to Trauma- Focused Cognitive Behavioral Training” and “raise public awareness on child abuse”. Again, trying to salvage themselves, just like all the other brands when they offend the masses. While they have been doing that, Balenciaga to some degree is still Balenciagaing, releasing a $8,000 crystal clog, a $2,300 mesh bag (mesh really), a $2,000 wire scarf (like huh), $1,500 sunglasses, for that price they better offer 20/20 vision, then there is their new Icare oops sorry Mary-Kate bag (SMH) and last but not least their $4,200 glove bag (like why). See Balenciaga, still being Balenciaga!
Now as for me and mine, which some of you might think is wrong, but I AM NOT throwing away or destroying my Balenciaga items. Why you might ask, well because I freakin paid for it, I spent my hard-earned coins on it and I am not throwing away money. Now, am I wearing it, nope. Am I waiting for a time when it’s acceptable to wear again, damn right. But let’s be frank, and you know this to be true, this will pass for Balenciaga, just like it passed for Gucci, Dolce, Alexander Wang and others. While the era of Demna and his trash bag handbags have come to an end, there will be a new era of Demna. I do know this though, if he F’s up again, he is out of there, because one thing you don’t do, is play with them rich people money! LOL
Sooo what are you doing with your Balenciaga? Keep or Throw?