Overview

• Demna’s final Balenciaga couture collection will debut on Wednesday at Paris Haute Couture Week.
• He will take the helm at Gucci the following day charged with reversing a 23 percent sales decline.
• Pierpaolo Piccioli has been named Balenciaga’s next creative director and will unveil his first collection in October during Paris Women’s Fashion Week.
• Investors drove Kering shares down about 12 percent on news of the reshuffle, reflecting doubts over whether Demna’s irreverent, streetwear-led approach fits Gucci’s traditional aesthetic.
• Over ten years, Demna grew Balenciaga’s annual sales from an estimated $350 million to about $2 billion while sparking headlines with provocative designs.