Balenciaga has named Nathalie Raynaud its new deputy CEO, the brand announced Tuesday.
Raynaud joined the Kering brand four years ago, leading its leather goods unit before being named chief product officer in 2023. The executive helped to increase Balenciagaâs leather goods sales, reducing the brandâs dependence on streetwear and sneakers. Successful bag introductions included the Cagole, Rodeo and Bel Air as well as the relaunched City motorcycle bag.
She will report to Gianfranco Gianangeli, who succeeded Cedric Charbit as the brandâs chief executive in January. Balenciagaâs former deputy CEO, Laura du Rusquec, left the brand last year to take the top job at Ganni.
Raynaudâs promotion comes as Balenciaga seeks to stabilise its business, with its star designer set to exit the label in a tough market for luxury goods.
Demna, Balenciagaâs creative director since 2015, will officially take the reins at Kering stablemate Gucci following a final couture show in July.
Balenciaga sales remain under pressure but the label has been more resilient than many luxury fashion brands in recent quarters. First-quarter retail sales fell 9 percent in the Kering âOther Housesâ unit that includes Balenciaga, Brioni, Boucheron, McQueen and Pomellato. The performance of Balenciagaâs leather goods âwas very solid against an ongoing drop in store traffic,â the group said.