Many saw it coming since last year, now it’s confirmed: Designer Olivier Rousteing has stepped down as the creative director of Balmain after a 14-year tenure. Amid an unprecedented merry-go-round of designers, another one leaves a major fashion house. It’s more evidence of the severity of the luxury sales downturn. Brands’ response is to hire new talents to create new products in a bid to get people spending again. What’s not certain is that it will work.
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