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Why Alexander Wang Was the Right Pick for Balenciaga, Per François-Henri Pinault

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François-Henri Pinault, CEO of PPR, the conglomerate that owns Balenciaga, spoke to CBS This Morning about the bold decision to instate young streetwear designer Alexander Wang in the lead creative position at the French house. Per WWD's transcription of the segment:

"Alexander Wang is young and he has a very universal culture," Pinault said. "He has a very strong talent not only when it comes to accessible product, but his talent could also be adapted for couture at Balenciaga. It will be a big challenge for him,"

Also noted, the Alexendar Wang brand image is not going to be a problem:

Alexander has this wonderful contemporary brand under his own name and this has nothing to do with Balenciaga. We will not change anything in the positioning. We have spent a lot of time determining where the brand is and where we want to stay in terms of being very modern and avant-garde, but still being influenced by the street."

· PPR Chief Talks Puma, Balenciaga [WWD]
· Alexander Wang is Balenciaga's New Hire, Says Cathy Horyn [Racked]