Fashion house Balenciaga has been named by Time magazine among the world’s leading companies.
By Eva Morletto07 avril 2022
The famous British media Time has selected the most powerful companies in five categories: titans, leaders, innovators, pioneers and disruptors. Unsurprisingly, all the GAFAs are at the top of the list, as well as tech giants like Sony. It is therefore a surprise to see in this ranking the fashion house Balenciaga, defined as the symbol of French luxury.
"The luxury giant Balenciaga not only reflects the spirit of the times, it also drives them," explains Time. The editors justify their choice because of the innovative and revolutionary approach of its artistic director Demna Gvasalia. The Georgian designer has enabled the luxury brand to accomplish several feats, breaking codes by producing virtual clothes for the famous video game Fortnite or a real collection for The Simpsons. Born in 1981 and trained at the Royal Academy of Fine Arts in Antwerp, Demna has been head of design at Balenciaga since 2015. The designer chooses models on the street or on Instagram for his catwalks and the locations of the shows are always out of the ordinary. The arrival of this streetwear champion has shaken up the house's codes, bringing a new freshness to it.
Alongside Balenciaga, Time's list includes the auction house Sotheby's, chosen because of its initiatives to market "digital gems". In the "disruptive" category, SKIMS, the lingerie brand launched by Kim Kardashian, known for celebrating inclusivity and for its collaborations with luxury houses like Fendi. Also in the same category are companies such as Paxful, founded by Ray Youssef with the aim of transforming bitcoin into a viable economic system for developing countries, or the pioneering Opensea, the largest NFT sales platform, as well as Axiom Space, which is turning the world's first space station entirely run by a private company into a reality, with the aim of boosting scientific research but also promoting extra-luxury travel in space.
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