Balenciaga has promoted Nathalie Raynaud to Deputy CEO as the brand strengthens its executive team for a leadership transition. Raynaud, who joined in 2021 as Chief Product Officer, played a key role in the success of handbag lines including Cagole and Bel Air. She previously held senior positions at Dior, Louis Vuitton, and Lanvin. Current Artistic Director Demna will depart Balenciaga after the brand’s haute couture show on July 9 to join Gucci. Parent company Kering is searching for a successor.