Fashion
Olivier Rousteing leaves Balmain after 14-year tenure at house
Published
November 5, 2025
Creative Director Olivier Rousteing has left Balmain, the Paris-based house announced Tuesday, bringing an end to the French deisgner’s 14-year-tenure at the house.
Rousteing took up his position as Creative Director of the fashion house in April 2011 and staged a series of critically acclaimed collections and shows years, where “his vision and creative genius propelled Balmain to unprecedented heights,” the house said in a release.
“I am deeply proud of everything I have accomplished, and infinitely grateful to my exceptional team at Balmain, my chosen family, in a place that has been my home for the past 14 years. I thank Mr. Rachid and Matteo for their unwavering trust and for offering me this extraordinary opportunity. As I look ahead to the future and the next chapter of my creative journey, I will always cherish this special time,” said Rousteing in the release.
Known for his blend of haute couture silhouettes, rock n roll attitude and bravura staging, Rousteing was a celebrated figure in Paris fashion.
Balmain did not name a successor to Rousteing, but added that a “new creative organization of the house will be announced at a needed moment.”
In the official statement: Mr. Rachid Mohamed Rachid, CEO of Mayhoola and Chairman of Balmain, said: “I extend my sincere thanks to Olivier Rousteing for his extraordinary contribution to Balmain. His visionary leadership has not only redefined the boundaries of fashion, but has also inspired an entire generation with his bold creativity, unwavering authenticity, and commitment to inclusivity. We are immensely proud of everything that has been achieved under his leadership and look forward to the next chapter of his journey, which he will pursue with the same passion and excellence.”
While CEO Matteo Sgarbossa, also said: “I would like to express my deep gratitude to Olivier for writing such an important chapter in the history of the House. His contribution and passion over the years will leave an indelible mark on the history of fashion.”
Born in Bordeaux to a Somalian mother and Ethiopian father, Rousteing was abandoned in an orphanage as a child, later being adopted by a bourgeois family in Bordeaux. A serious student, Rousteing studied at Esmod art college in Bordeaux, before moving to Florence, where he joined Robert Cavalli in the design studio.
In 2009, he began working at Balmain as director of the women’s wear design studio under Christophe Decarnin. By 2011, he had succeeded Decarnin, introducing a sexy rock and roll attitude and razor sharp tailoring – going on to dress stars like Kim Kardashian, Beyoncé, Rihanna and Jennifer Lopez. He also created costumes for the Opera national in Paris; staged a solo haute couture show for the brand and in 2022 presented a much-admired collection as a guest designer for the house of Jean-Paul Gaultier.
The house of Balmain was founded in 1945 by Pierre Balmain, embodying from the beginning an innovative look, the “New French Style.”
Alongside its ready-to-wear and accessory collections for women and men, the house appeals to an international audience with Balmain Beauty, inspired by the brand’s iconic fragrances from the 1940s and 1950s, as well as its iconic eyewear.
Balmain is controlled by Mayhoola, a luxury holding company owned by the Qatari royal family that also owns Valentino in Rome.
Copyright © 2025 FashionNetwork.com All rights reserved.
The company’s adjusted EBITDA, excluding Employee Stock Option Plan (ESOP) expenses, rose around 14 per cent YoY to ₹468 crore, while EBITDA margin improved by 20 basis points to around 9.3 per cent. Excluding the reciprocal tariff impact of around ₹36 crore and incremental losses of around ₹13 crore in Bihar and Guatemala, adjusted EBITDA margin stood at around 10.3 per cent.
Pallab Banerjee, managing director, Pearl Global Industries, said: “FY26 marked the company’s second consecutive year of double-digit growth and improved profitability. This performance further solidifies the position of Pearl Global’s diversified operating model and disciplined execution across geographies.”
Pearl Global Industries has reported its highest-ever FY26 revenue of ₹5,025 crore (~$523.93 million), up 11.5 per cent YoY, driven by volume growth and value-added products.
PAT rose 17 per cent to ₹270 crore (~$28.15 million), while Q4 revenue hit ₹1,314 crore (~$137 million).
The company shipped 78.1 million pieces.
Its net worth stands at ₹1,438 crore (~$149.93 million).
He said that geopolitical shifts and Gulf conflicts could lead to energy cost escalation, affecting raw material and logistics costs. However, the company remains prepared to manage these headwinds, supported by its diversified manufacturing base, strong order book, and broad market presence.
The profit after tax (PAT) increased 17 per cent YoY to ₹270 crore (~$28.15 million), the company said in a press release.
On a standalone basis, FY26 revenue stood at ₹1,081 crore, while adjusted EBITDA was ₹67 crore, with EBITDA margin improving by 60 basis points to 6.2 per cent, mainly due to cost restructuring. Standalone PAT rose to ₹69 crore from ₹55 crore in the previous year.
The company’s net worth stood at ₹1,438 crore (~$149.93 million) as of March 31, 2026, compared with ₹1,146 crore a year earlier.
“In FY26, Group delivered another year of resilient performance against a complex geopolitical backdrop. Group achieved, among others, two major milestones this year: revenue crossed INR 5,000 crore mark and installed capacity surpassed 100 million pieces per annum,” said Pulkit Seth, vice-chairman and non-executive director, PGIL.
Seth added that the global apparel industry faced tariff-related disruptions during FY26, with the company’s India operations impacted by tariffs and penal duties imposed by the US. However, he added that Pearl Global leveraged its diversified, multi-country manufacturing presence to mitigate these challenges and deliver double-digit growth.
For the fourth quarter (Q4) of FY26, PGIL posted its highest-ever quarterly revenue of ₹1,314 crore (~$137 million), up 6.9 per cent YoY. Adjusted EBITDA rose 13.7 per cent to ₹135 crore, with margin at 10.3 per cent, the highest EBITDA margin recorded by the company in any quarter. PAT for the quarter stood at ₹81 crore, up 24.6 per cent YoY, PGIL said in a press release.
Standalone revenue during the quarter stood at ₹304 crore, adjusted EBITDA at ₹24 crore, and PAT at ₹14 crore.
PGIL shipped its highest-ever volumes in Q4 FY26 and FY26, at 22 million pieces and 78.1 million pieces respectively. Its annual installed capacity crossed 100 million pieces, reaching around 101 million pieces.
The ongoing capex in Bangladesh is expected to be completed by the first half of FY27 and will add around 6-7 million pieces of capacity during the year.
Fibre2Fashion News Desk (SG)
PTA prices recorded notable declines across key Asian benchmarks, tracking crude oil weakness rooted in evolving geopolitical signals. The correction was broad-based, spanning China, Southeast Asia, and South Korea, while India**;s CIF price held steady reflecting the lag in import contract structures and limited spot availability in the domestic market on the day.
The *** per cent Polyester Yarn market witnessed a slightly negative trend during the assessed period, with mild price corrections observed across both yarn grades in the Asia Free on Board (FOB) China market. Prices for **s (*** per cent polyester yarn) declined from around $*.***/kg to nearly $*.***/kg, registering a decrease of approximately *.** per cent.
The pivot is urgent because the old model is under pressure. April **** looked strong: Ready-Made Garment (RMG) exports rose **.** per cent year on year to $*.** billion. But the ten-month picture is weaker. From July-April FY****–**, apparel exports stood at $**.** billion, down *.** per cent. Knitwear fell *.** per cent to $**.** billion; woven fell *.** per cent to $**.** billion. The rebound is real, but so is the drag underneath.
AWARE is the sharpest EU-facing signal: blockchain-backed product data for Digital Product Passport (DPP) readiness. Open Supply Hub adds the factory-identity layer, pushing production information into an open platform. GIZ brings the longer reform spine, from May **** to February ****, covering energy efficiency, circularity, chemical management, renewable-energy skills and textile-waste transparency.
India’s Pearl Global’s FY26 revenue crosses $521 mn milestone
AI could make humans less intelligent, warns Royal Observatory
Polyester yarn prices ease as PTA weakens on limited demand
-
Entertainment5 days agoConan O’Brien hat tricks as Oscar host
-
Tech1 week agoCould Contact-Tracing Apps Help With the Hantavirus? Not Really
-
Tech1 week agoI Tried the Best Captioning Smart Glasses, and Only One Leads the Pack
-
Fashion5 days agoItaly’s Zegna Group’s Q1 growth boosted by strong organic performance
-
Sports1 week agoBobby Cox, legendary Atlanta Braves manager who led 1995 World Series champions, dead at 84
-
Entertainment1 week agoMartin Short: Facing tragedy with joy
-
Entertainment1 week agoTom Brady gets back at Kevin Hart during Netflix roast
-
Entertainment1 week agoMartha Stewart: How to make an omelet