Balenciaga appoints new CEO

Balenciaga has a new CEO, reports the Gucci Group. Isabelle Guichot, formerly president of Sergio Rossi, will become the head of Gucci's fastest growing brand. Guichot joins Balenciaga at a moment when the label is enjoying rapid growth under designer Nicolas Ghesquiere and in the same week as the house sponsored New York's chicest event, the Metropolitan Museum's annual Costume Institute Ball.

"Working closely with Nicolas Ghesquiere and the team at Balenciaga, I am confident that Isabel Guichot, with her vast experience in luxury, will continue to build upon the outstanding success that Balenciaga enjoys," Gucci Group President & CEO Robert Polet said in a statement.