Balmain joins the list of luxury fashion houses that are making the decision to rebrand to fit into the current marketing climate.
As of late, luxury brands are making it popular to wear fashion accessories that are plastered with their insignia. Creative director for Balmain, Oliver Rousteing is the latest to make the decision to rebrand the company, in hopes to increase revenue.
The Business of Fashion reports that the redesign may finally allow Balmain to compete with the likes of Gucci, Chanel and Louis Vuitton. The three latter fashion houses generate billions of dollars in revenue each year, whereas Balmain is estimated to hit a profit of around $350 million. While still a whole lotta cash, the brand currently can’t compete with brands like Gucci who continue to grow in popularity.
“Having been the Creative Director of this house for eight years, I’m not about to tear down traditions or break rules simply for the sake of breaking them. But times do change,” said Rousteing in an official statement. “Balmain is now a fast-growing brand relying on new media to communicate to a global audience. To best meet the challenges and opportunities of today, we unveil a newly updated logo for Balmain Paris.”
The new logo represents both Balmain founder, Pierre Balmain, and their Paris headquarters. The monogram details a capital “B” with an additional line to represent the letter “P”. Rousteing has already begun working with the new logo and has incorporated it into his Pre-Fall 2019 collection. He said, “This new B, echoing some of Pierre Balmain’s mid-century monogram designs, works well for patterns and adornments for the house’s many collections.”
We can’t wait to see what Rousteing does with this new logo!