Balmain hires Givenchy director as new CEO

Balmain has appointed Matteo Sgarbossa as its next Chief Executive Officer, replacing Jean-Jacques Guével, who will step down after more than four years in the role.

The Paris-based fashion brand confirmed that Sgarbossa will assume the position on 6 May, according to WWD.

He will join Balmain from Givenchy, where he has served as International Director since July 2020.

Prior to this, he held various positions at Mango, as well as Sisley and United Colors of Benetton under Benetton Group.

It comes after current CEO Jean-Jacques Guével previously announced his exit from the business to "pursue other interests".

Guével has held the role since February 2020, having worked at Zadig & Voltaire, LVMH and Celine prior to this.

"Today marks another moment that reflects our grand ambitions for Balmain. Matteo's strong leadership skills and extensive experience in the fashion and luxury goods industry at senior levels make him the ideal person to lead Balmain," Chairman Rachid Mohamed Rachid, told WWD.

Balmain said Sgarbossa would be charged with accelerating the luxury brand's international success across geographies, building on the "solid foundations" set in recent years.

Sources said he will also continue to improve its product offer, further elevating the retail experience, and ensuring focused and impactful communications and marketing.

He will partner with Olivier Rousteing, Balmain's Creative Director since 2011, to "take the company to the next level", "further reinforcing its reputation for sophisticated ready-to-wear with couture-calibre craftsmanship, and exceptional customer experiences".

"I trust that his energy and global market knowledge will be crucial in this new phase of Balmain and his partnership with Olivier Rousteing will lead to a very successful chapter in the history of the house. As one of the most exceptional heritage brands of France, Balmain has the potential to become a true global leader in luxury goods," Rachid added.