PARIS — Pierpaolo Piccioli is stepping down as creative director of Balenciaga, parent company Kering announced on Thursday, bringing a swift conclusion to a high-profile chapter for the historic fashion house. Kering stated that the new creative direction for Balenciaga will be announced shortly.
“Pierpaolo is an exceptional couturier and creative talent for whom we have the greatest respect,” Kering CEO Luca de Meo said in a statement. “Our ambition is to build on Balenciaga’s avant-garde spirit, honor its remarkable heritage and continue to push creative boundaries, further establishing the house as a powerful and relevant voice.”
Balenciaga CEO Gianfranco Gianangeli echoed those sentiments, expressing gratitude for the designer’s brief yet impactful tenure. “We are deeply grateful for Pierpaolo’s contribution to Balenciaga,” Gianangeli said. “Through his vision, he reaffirmed the couture origins of the house, bringing his considered approach to craftsmanship, construction and creativity. I would like to sincerely thank him for his dedication, generosity and collaboration.”
Piccioli’s appointment at Balenciaga was announced in May 2025, arriving precisely a year after the acclaimed Italian designer exited Valentino, where he had spent an illustrious 25 years. His tenure at Balenciaga officially became effective in July 2025, following the final couture presentation of his predecessor, Demna.
Piccioli’s debut collection for Balenciaga was presented during Paris Fashion Week last October, positioning it as one of more than a dozen major designer debuts for the Spring 2026 season. Staged at Kering’s corporate headquarters inside the historic Laennec landmark, the star-studded show drew deeply upon founder Cristóbal Balenciaga’s rich archives, adopting a much more proper and structured approach than the street-style-infused era under Demna. Homages to Demna were subtly integrated in the form of oversized glasses, a bomber jacket transformed into a leather bubble, and an enormous white shirt so voluminous that it extended into an expansive train. The collection received measured praise from critics and industry insiders alike.
However, the reception to his sophomore ready-to-wear outing in March proved to be more mixed.
“Piccioli’s significant talents have always included the ability to spread joy and delight through his exuberant color sense and love of women’s intellect. It didn’t show up in the dark this season, but he should know the fashion world still craves to see it,” Vogue Runway’s Sarah Mower wrote at the time, contrasting the darker tones with his mastery of color showcased during his debut Balenciaga couture show in July.
Reflecting on his progression in her review of the Spring 2027 ready-to-wear show in October, Mower observed: “He’s needed to figure out where he stands between the monumental Cristóbal couture legacy and the monumental Demna social satirist street-style legacy, and to do so in real time. That’s no easy task for anyone, no matter how experienced they may be.” Mower added, “There were many other moments where Piccioli asserted his own identity… That’s what it felt like anyway, especially for evening.”
Despite the critical debates surrounding his ready-to-wear collections, celebrities enthusiastically embraced the refined couture flourishes of his designs. The movement began with Meghan Markle making a surprise appearance in a custom ivory ensemble at Piccioli’s debut show. High-profile red carpet moments quickly followed, including Ariana Grande’s striking pink gown, Rosalía’s low-rise maxi skirt, and Demi Moore’s widely discussed Cannes closing look.
Parent company Kering does not traditionally break out sales figures for individual houses, save for its flagship brand, Gucci. However, according to estimates from Morgan Stanley, Balenciaga’s sales reached approximately €1.47 billion in 2025, marking a decrease from the €1.65 billion recorded a year earlier. This shift came after a decade of significant, rapid growth under Demna, during which annual sales climbed from €360 million in 2015.
Financial reports throughout 2026 highlighted a shifting commercial landscape for the brand. In the first quarter of 2026, Kering noted that Balenciaga had “delivered another quarter of growth, supported by sustained demand in leather goods.” However, subsequent quarters proved more difficult. In the second quarter, Kering reported that Balenciaga faced a more challenging business environment.
The third quarter proved equally testing. Kering CFO Armelle Poulou noted during a financial call that while Balenciaga was seeing very strong results in its leather goods division—specifically with the City and Rodeo lines, alongside the newly launched Hourglass Avenue bag—the ready-to-wear and shoe categories were struggling. Poulou emphasized that the brand needed to focus on introducing fresh lines and products in those specific sectors. At the time, when asked by analysts whether Piccioli would remain at the creative helm of Balenciaga, Poulou declined to comment on ongoing rumors.
Piccioli had assumed his role just two months before Luca de Meo took over as CEO of Kering and introduced an ambitious turnaround plan for the luxury group, which included a completely revised strategic roadmap for Balenciaga.
“Balenciaga is one of the brands that better understands the vibes of the new generation,” de Meo stated during Kering’s Capital Markets Day in April 2026. The group’s long-term objectives for the brand include doubling women’s ready-to-wear sales by 2030, further accelerating the leather goods category by the end of the decade, and doubling the overall business footprint in the Americas by 2030.
Piccioli’s departure coincides with a broader period of creative restructuring across Kering’s luxury portfolio. Both Saint Laurent and Alexander McQueen currently remain without creative directors following the respective departures of Anthony Vaccarello and Seán McGirr.
Shortly after Kering’s announcement, which did not include an accompanying statement from the designer himself, Piccioli took to Instagram to share his farewell. He posted a photograph of himself inside the Balenciaga couture salons on Avenue George V, accompanied by behind-the-scenes imagery from his Fall 2026 couture fittings and a heartfelt love letter dedicated to couture and his studio team.
“Over the years, my passion for couture has defined who I am, shaping my choices and the paths I have taken,” Piccioli wrote. “Thank you, then. For the work done, for the hands, for the courage, for the care; thank you to all those who have shared this perspective and walked beside me along this path. Without maps and without compromise. You know who you are. And, despite everything, keep shining. Always. Love, Pp.”
