Balmain appoints Lily Liu to lead Greater China
Balmain is looking to accelerate its business in China, its second largest market after the U.S., with the announcement of an important executive appointment. The Parisian luxury house has poached Lily Liu, its new president of Greater China, from Versace. Liu, who is a renowned expert on the Chinese luxury sector, will join the company on November 12, stepping into a role created especially for her arrival.
Liu has spent the last two years as vice president for China at Versace. Boasting 25 years of experience in the Chinese luxury industry, she has notably held leadership roles at Christian Dior Couture, Bottega Veneta and Lanvin.
"As Balmain continues its expansion in the region, we are confident that Ms. Liu will help guide both the house and its growing team," commented Balmain CEO Jean-Jacques Guéval in a note, going on to emphasize that the label "has seen strong growth on the Chinese market, notably thanks to the expansion of its presence in Shenzen, and as we prepare to open new stores in Chengdu, Chonqing and on Hainan Island before January 2022."
Purchased in 2016 by Mayhoola, an investment fund owned by the Qatari royal family, Balmain's creative direction is currently led by Olivier Rousteing, who recently celebrated his tenth anniversary at the brand.
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