Balmain has appointed Massimo Piombini as the new CEO to replace Emmanuel Diemoz effective immediately.
Massimo Piombini is already a member of the Balmain board of directors, and was previously the commercial director of Valentino S.p.A., which is also owned by the same investment fund backed by the Emir of Qatar.
Piombini said in a statement, “I am excited by this opportunity to form a part of the Balmain team, as the brand develops into a global leader in the luxury goods market. Olivier Rousteing, Balmain’s creative director, has instilled a remarkable passion inside the house, overseeing the creation of a singular, recognizable spirit and silhouette, while always remaining focused on the mission of responding to the needs and desires of a new and diverse generation…I look forward to working closely with him and the rest of the Balmain family, helping to coherently build upon that vision and fully realise the house’s significant potential for impressive future growth.”
The new CEO will be working together with Olivier Rousteing, the creative director at Balmain, to expand its global store network and develop products into some lower-priced items, such as handbags, shoes, and key rings. This will be done with the intention of maintaining the brand’s with its younger audience.
Rousteing has been focused intently on increasing Balmain’s presence by connecting directly with social media fans, which is also increasing the customer base. He’s attracted 4.4 million followers on Instagram and a “Balmain Army” of celebrity supporters, including models Gigi Hadid and Joan Smalls, and the Kardashians.
Rousteing told WWD exclusively, “We want to rethink casual luxury. We want to put more denims, we want to bring more jersey in the collection, knitwear – something more casual, but still keeping it couture and luxury.”