Balenciaga makes its mark on millennials
05/01/2018
Accessories make up 50% of Balenciaga sales at the moment, with shoes and ready-to-wear each taking a 25% share.
Mr Charbit told the FT that Balenciaga is now enjoying considerable success among millennial consumers, with this group now making up 65% of all its customers and accounting for 50% of sales.
He said that authenticity is an important quality in the eyes of these consumers, although according to the FT, some discussion is now taking place at the higher end about what exactly authenticity means: some designers are convinced uniqueness is more important to young consumers than craftsmanship and quality.
Cédric Charbit confirmed that the amount of money millennials are willing to spend on products is going up, saying: “They’re maybe not the generation who would invest in a $3,000 jacket, but they might buy a $450 T-shirt.”
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