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Author: Admin | 2025-04-28
Translated by Cassidy STEPHENS Published October 5, 2022 Head in the stars... feet in the mud. If Gucci is Kering's gem, then Balenciaga, which showed on Sunday at Paris Fashion Week, is a diamond. But for several years, during the financial results presentation, the performance of Balenciaga has been questioned. In their annual presentation, the group led by François-Henri Pinault, always boasts about the house's success without ever going into detail.Balenciaga - Spring-Summer2023 - Womenswear - Paris - © PixelFormulaThe luxury giant, mainly owned by the Pinault Family, acheived a total of 17.645 billion euros in sales in 2021. These sales include those of its Italian flagship representing 9.731 billion euros, Saint Laurent with 2.521 billion euros and Bottega Veneta with 1.5 billion euros. However it also combines the figures of houses such as Alexander McQueen or Brioni in another division called "Other houses”. The latter achieved a turnover of 3.265 billion euros, up 43% compared to 2021, but the breakdown of this figure was not disclosed. While the performance of the division is still impressive in 2022 with a reported growth of 32% in the first half of the year, FashionNetwork.com has obtained the details of Balenciaga’s 2021 financial results. The house of which Demna (Demna Gvasalia, in full) is creative director has passed the billion euro mark in sales by far. The label is in fact just behind Bottega Veneta and its 1.5 billion euros in sales.A 44% annual growthIn 2021, Balenciaga S.A.S., based in Paris, achieved a turnover of 1.189 billion euros against 826 million in 2020 and 927 million in 2019. A nice dynamic, with 44% growth between 2020 and 2021 and a return to the 2019 level of operating income in 2021 with 326 million euros.In terms of net income, 2021 is a record year
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