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Pierpaolo Pressure

With the appointment of Pierpaolo Piccioli to succeed Demna at Balenciaga, Kering appears to be choosing stability—taking a second chance on a proven operator, rather than betting it all on an untested genius. It’s indicative of the risk-averse state of luxury these days, but also the growing pressures on the Pinault family, itself.

Pierpaolo Piccioli
Regardless of how things ended at Valentino, Piccioli will likely bring stability to Balenciaga, especially on the ready-to-wear front. He already has a meaningful couture and ready-to-wear client base, many of whom will follow him to Balenciaga. Photo: Kiran Ridley/AFP
Lauren Sherman
May 19, 2025

On Monday, the final round of this particular game of designer musical chairs came to a gentle conclusion. Balenciaga, the French couture house controlled by the Pinault family since 2001, named Pierpaolo Piccioli its new designer. He will succeed Demna, who is off to Gucci come July. Piccioli’s first collection will be shown in the fall, although the company has yet to communicate on that front.