S1 E24

WEEKLY NEWSLETTER FROM ANDREA BATILLA

HAUTE COUTURE FALL/WINTER 2026

BALENCIAGA

In the chaos reigning in the fashion world—and even more so within Kering—there are rare fixed points that perhaps deserve a fresh start.

While unconfirmed rumors swirl about the possible exits of Stefano Cantino, CEO of Gucci, and even Francesca Bellettini, Deputy CEO of Kering, the group’s new CEO, Luca de Meo, might want to take the time to sit down with Demna and have him explain in detail how clothing commerce really works.

Everything we do, buy, build, consume, eat, or drink is the result of something called desire—almost never necessity. We live in a subjective world, driven by impulses we like to think we control, though we rarely do. We even created a place called the subconscious to justify unspoken desires and inexplicable choices.

Marketing in the 1980s, unsure how to deal with this strange phenomenon, gave it the name 'intangible value' or 'symbolic value,' which really means nothing. It simply bypasses the issue.

The realm of desire, so poorly explored, is what fundamentally drives luxury purchases. No matter how much we try to tie everything back to manageable concepts like quality or 'Made in Italy,' the truth is that no one buys a Prada jacket for its technical features—nor a Gucci or Balenciaga one because it's made in Italy.

This systemic refusal to explore the roots of desire has led to the projection of a kind of magical power onto creative directors—as if they alone attract or repel consumers. Unlike other art forms, where people seek meaning in the work, fashion prefers not to ask uncomfortable, difficult, or dangerous questions.