Triple S Success: Balenciaga Approaching Billion-Dollar Sales Milestone
Trawl through the comments on any Balenciaga Triple S post on our IG page, and you’re likely to notice one thing — people really hate this shoe. Fortunately for the brand, the animosity has done little to stop the Triple S express from rolling on.
Spurred by sales of $895 USD per pair of the triple-stacked sneaker, Balenciaga is now the fastest-growing brand in parent company Kering’s portfolio, outpacing Gucci’s 49 per cent comparable sales growth Q1 of 2018. If trends continue, Balenciaga should hit 1 billion euros, or $1.18 billion USD, in annual sales by the end of Q2.
Balenciaga CEO Cedric Charbit is well aware the brand’s popularity is at an all-time high, with some production moving from Italy to China doing little to diminish demand.
‘There’s not a dinner I go to where a father or someone [doesn’t] say, "Stop releasing these shoes, it’s out of control; we spend too much money at Balenciaga!" which I’m very happy with,’ says Charbit. ‘Millennials represent 60 per cent of what we sell. Together with men, these are growing faster than any other [category].'