Designer Olivier Rousteing Leaves Balmain After 14 Years Fusing Couture Craft With Pop-Era Bravado

French fashion designer Olivier Rousteing acknowledges the audience at the end of the Balmain show as part of the Paris Fashion Week Womenswear Spring/Summer 2024, in Paris on September 27, 2023. (AFP)
French fashion designer Olivier Rousteing acknowledges the audience at the end of the Balmain show as part of the Paris Fashion Week Womenswear Spring/Summer 2024, in Paris on September 27, 2023. (AFP)
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Designer Olivier Rousteing Leaves Balmain After 14 Years Fusing Couture Craft With Pop-Era Bravado

French fashion designer Olivier Rousteing acknowledges the audience at the end of the Balmain show as part of the Paris Fashion Week Womenswear Spring/Summer 2024, in Paris on September 27, 2023. (AFP)
French fashion designer Olivier Rousteing acknowledges the audience at the end of the Balmain show as part of the Paris Fashion Week Womenswear Spring/Summer 2024, in Paris on September 27, 2023. (AFP)

Designer Olivier Rousteing is stepping down as creative director of the Balmain fashion house after 14 hugely visible years in which he fused the rigor of Parisian tailoring with a digital-age sense of celebrity, he announced Wednesday.

“Today marks the end of my Balmain era,” Rousteing, 40, wrote on Instagram. “What an extraordinary story it has been — a love story, a life story ... I will always hold this treasured time close to my heart."

Balmain confirmed Rousteing's departure and said in a statement that a new creative direction would be announced “in due course.”

“Throughout his remarkable 14-year tenure, Olivier’s visionary approach and creative brilliance propelled Balmain to unprecedented heights," the label said.

Rousteing, who became creative director in 2011 at age 25 after two years at the label, spent his tenure reviving a once-sleepy fashion house with a mix of couture craft and pop-era bravado.

He transformed Balmain into a headline-generating brand with a vision built on sequins, power shoulders and social media muscle, reframing French luxury for a generation raised on Instagram.

Under Rousteing, Balmain became as much about community as clothing. He cultivated what he called the “Balmain Army" — a loyal circle of models and stars including Rihanna, Beyoncé and Kim Kardashian — which embodied the glamour and visibility he championed.

Runway shows became pop events, blurring the line between fashion show and stadium concert. The designer’s inclusive casting and celebration of diversity helped redefine the image of a Paris house often associated with old-world exclusivity.

Born in Bordeaux and adopted as an infant, Rousteing later learned that his biological parents were of Somali and Ethiopian origin — a revelation that he said deepened his sense of identity and creative mission. His collections often wove references to heritage, resilience and belonging, offering a modern counterpoint to the Eurocentric codes that once dominated French couture.

That personal resilience was tested again in 2020, when a fireplace explosion in his Paris home left him with severe burns across much of his body. Rousteing kept the accident private for nearly a year, designing in bandages while concealing his injuries from the public eye. When he revealed the ordeal on Instagram, posting an image of his scarred torso, the gesture was both raw and defiant — a reminder that vulnerability could coexist with glamour.

The designer’s candor about his trauma and recovery further humanized a figure once seen as fashion’s ultimate showman. In interviews, Rousteing said the experience stripped away fear and reinforced his belief in honesty and transparency. His subsequent collections, notably the Spring 2022 show marking Balmain’s 10th anniversary under his direction, were suffused with themes of healing, strength and rebirth, with corseted silhouettes and bandage motifs doubling as symbols of survival.

“Like every story, this one also has an ending,” Rousteing wrote on Instagram Wednesday. He thanked his team and colleagues, but did not say what his next step will be.

“Today, I leave the House of Balmain with my eyes still wide open — open to the future and to the beautiful adventures ahead, adventures in which all of you will have a place. A new era, a new beginning, a new story. THANK YOU.”



Fashion Commission Launches 1st Executive Master’s Program in Riyadh

Fashion Commission Launches 1st Executive Master’s Program in Riyadh
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Fashion Commission Launches 1st Executive Master’s Program in Riyadh

Fashion Commission Launches 1st Executive Master’s Program in Riyadh

The Fashion Commission announced the launch of the first Executive Master’s program to be delivered in Riyadh, developed in collaboration with the world-renowned Institut Français de la Mode (IFM).

The new program marks a significant leap in advancing fashion education and executive training within the Kingdom, according to SPA.

The Executive Master’s in Strategic Management of Fashion & Luxury represents a new milestone in fashion education, taking place in Riyadh for the first time. It is a 15-month hybrid executive master’s degree track designed for high-potential professionals seeking advanced executive training while continuing their careers. Delivered through a blend of in-person modules in Riyadh and Paris, alongside supervised online learning, the program equips participants with strategic, managerial, and analytical expertise tailored to the rapidly evolving fashion and luxury sector.

Designed with market needs in mind, the executive master’s curriculum covers creation and design, brand strategies, sustainability, new consumer behaviors, retail innovation, fashion media, collection management, and future industry perspectives. Participants will also complete a thesis that contributes new knowledge to the regional and global fashion landscape.

The program is taught by IFM’s internationally recognized faculty, experts in fashion history, sustainability, consumer behavior, design, and luxury management, alongside industry leaders from major global houses, fashion federations, media groups, and innovation-driven organizations.

This landmark program builds on the Fashion Commission’s ongoing partnership with IFM since June 2022. Within the first year, the collaboration introduced high-level educational initiatives, including the Advanced Management Program for Luxury Fashion and the Executive Master’s in Luxury Fashion, designed to elevate local talent and strengthen the Kingdom’s creative workforce.

These programs have contributed to developing the skills and knowledge required to support a world-class fashion ecosystem.

The launch of the Executive Master’s marks a pivotal step in establishing Riyadh as an education hub for the fashion and luxury sectors. By bringing a master’s qualification of this caliber directly to the Kingdom, the Fashion Commission reinforces its commitment to enabling professional growth, supporting innovation, and creating globally competitive talent pipelines.


Nike Shares Rise as Apple’s Cook Doubles His Bet on CEO Hill’s Overhaul Effort

A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
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Nike Shares Rise as Apple’s Cook Doubles His Bet on CEO Hill’s Overhaul Effort

A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)

Nike shares rose 5% in early trading on Wednesday after Apple CEO Tim Cook doubled his personal stake in the sportswear maker, raising his bets on the margin-pinching turnaround efforts led by CEO Elliott Hill.

Cook, who has been on Nike's board since 2005, bought 50,000 shares at $58.97 ‌each, according to ‌a regulatory filing. As of December ‌22, ⁠he holds about ‌105,000 shares, which is now worth nearly $6 million.

It was the largest open market stock purchase for a Nike director or executive and possibly the largest in more than a decade, said Jonathan Komp, analyst at Baird Equity Research.

"(We see) Cook's move as a positive signal for the progress under CEO Elliott Hill and Nike's 'Win ⁠Now' actions," Komp said.

The purchase comes days after Nike reported weaker quarterly margins and weak ‌sales in China even as CEO ‍Hill tries to revive demand ‍through fresh marketing plans and innovation focused on running and sports, ‍while phasing out lagging lifestyle brands.

He has also attempted to mend Nike's ties with wholesalers such as Dicks Sporting Goods to increase visibility among shoppers amid stiff competition from newer brands.

However, the strategy has strained Nike's margins, which have been declining for over a year, while its efforts to win back its ⁠premier position in discount-friendly China appears to be faltering.

Nike's shares have slumped nearly 13% since it reported results on December 18 and are on track for the fourth straight year of declines. They were trading at $60.19 on Wednesday.

Cook has been a lead independent director of Nike since 2016 when co-founder Phil Knight stepped down as its chairman.

The Apple CEO "remains extremely close" with Knight, Komp said, adding that he has advised Nike through key strategic decisions including Hill's appointment last year.

Board director and former Intel CEO ‌Robert Swan also bought about 8,700 shares for about $500,000 this week.


Etro Founding Family Exits Group as New Investors Including Türkiye's RAMS Global Join

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
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Etro Founding Family Exits Group as New Investors Including Türkiye's RAMS Global Join

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters

The founding family of Italian fashion house Etro has sold the minority stake it still owned in the brand to a group of investors including Turkish group RAMS Global, the company said on Friday.

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner and "will continue to actively support the brand's long-term growth strategy," Etro added, according to Reuters.

The new investors comprise also Italian fashion group Swinger International and small private equity firm ⁠RSI.

In addition to buying the stake, they all subscribed to a capital increase that will lower L Catterton's holding in Etro to between 51% and 55% from around 65%.

When including both the acquisition and the capital increase, the deal is worth around 70 ⁠million euros ($82 million), two sources close to the matter said. Etro did not disclose financial details.

Chief Executive Fabrizio Cardinali will remain at the helm, while Faruk Bülbül, representing RAMS Global, will become chairman of the board.

L Catterton bought a 60% stake in the brand known for its paisley motif four years ago, and it slightly increased the holding over the years.

The company, founded by Gimmo Etro in 1968, has ⁠been struggling with its turnaround. Last year it posted a net loss of 23 million euros with net revenues declining to 245 million euros from 261 million euros, according to filings with the local chambers of commerce reviewed by Reuters.

Rothschild advised L Catterton and the Etro family on the deal.

Rothschild had been hired in 2024 to look for a new investor who could buy all or part of the Etro fashion group, sources had previously told Reuters.