American TV personality Kim Kardashian is “re-evaluating” her relationship with Kering (GB:0IIH) (PPRUY)-owned Spanish luxury fashion brand Balenciaga after it came under widespread criticism for its latest ad campaign that featured two kids posing with teddy bears wearing inappropriate gear.
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Kardashian, brand ambassador for Balenciaga, had earlier received backlash for staying silent. Kardashian stated that she was “shaken by the disturbing images” and was glad that the brand apologized and removed the campaign. She explained that she was quiet as she was waiting for a chance to speak to Balenciaga’s team and understand “how this could have happened.”
Kardashian added, “As for my future with Balenciaga, I am currently re-evaluating my relationship with the brand, basing it off their willingness to accept accountability for something that should have never happened to begin with – and the actions I am expecting to see them take to protect children.”
Last week, Balenciaga issued an apology on Instagram and stated it had pulled the holiday campaign from all the platforms. Balenciaga’s parent company Kering also owns brands like Gucci, Yves Saint Laurent, and Alexander McQueen.
Last month, Balenciaga ended its collaboration with rapper Kanye West following a series of antisemitic posts and controversial comments.
Is Kering Stock a Good Buy?
Kering scores a Moderate Buy consensus rating based on 10 Buys and five Holds. The average price target of €627.20 implies 14.7% upside potential. Shares have declined 22.2% so far this year. Kering’s U.S.-listed shares have declined nearly 28% year-to-date.
