Jean-Jacques Guevel, chief executive of Balmain, is stepping down “to pursue other interests” after four years leading the Parisian fashion house.
Guevel steered Mayhoola-owned Balmain through the pandemic and subsequent surge in luxury demand, during which the brand worked to activate its “army” of fans with large-scale fashion shows (including a 10th anniversary bash for designer Olivier Rousteing) that were open to the public, as its entry-level business got a boost from a monogrammed canvas range that reduced its dependence on logo tees and other merch.
Under Guevel, Balmain also inked a licensing deal with luxury beauty giant Estée Lauder, which is set to launch a revamped fragrance offer for the brand later this year.
Guevel’s exit follows the exit of marketing chief Txampi Diz last week.
In a statement, Mayhoola CEO and Balmain Chairman Rachid Mohamed Rachid thanked Guevel, voicing confidence in the brand’s prospects. Balmain has “the potential to become a true global luxury goods leader, thanks to its unique heritage, talented creative director Olivier Rousteing and our exceptional colleagues,” Rachid said. “We will be building onto the significant growth of the last years and will announce a new CEO in due course.”
