Balenciaga made history with its off-schedule Spring 2023 show on Wall Street in New York City. Despite initial complaints about the timing, guests were quickly captivated by the unique setting, the New York Stock Exchange. This marked the first time that the French brand, owned by Kering, held a show in the Big Apple under the direction of designer Demna Gvasalia. The invitation to the show, which featured the Balenciaga Spring/Summer 2023 collection, came in the form of a stack of fake $100 bills in a crumpled paper bag, hinting at the Wall Street address. Teaser images on Balenciaga’s website further suggested a sense of nostalgia for the city that never sleeps.
Demna’s vision of New York seemed to draw inspiration from a bygone era, evoking nostalgia through pre-2019 taxi footage and news briefs about the bankruptcy of Tavern On the Green, a once highly successful restaurant. This created an aura of reminiscence, invoking memories of a different time. However, the most significant similarities to that era were the city’s crime, subway issues, and rat population. Unlike the 1980s, figures like Donald Trump no longer hold the same status, cocaine is no longer popular, and interest rates are far from their highest historical levels.
Inside the show venue, guests such as Chloë Sevigny, Pharrell Williams, Ye, Megan Thee Stallion, Frank Ocean, and NYC Mayor Eric Adams watched the show from trading stools, surrounded by multiple screens displaying global newsfeeds and stock prices. The models walked the runway to a disconcerting soundtrack, draped in black and exuding a dark allure. The atmosphere was further heightened as the soundtrack transitioned into a melancholic rendition of ‘New York, New York’, adding an emotional touch to the show.
Demna incorporated Wall Street wardrobe tropes from the 1980s, including overcoats, trench coats, double-breasted suit jackets, and a-line skirts. However, he added a subversive twist with hooded fetish black latex face masks, bringing an edgy and unconventional element to the looks. The designer also finished the outfits with exaggerated men’s derbies and oversized pumps. Beneath these accessories, there were wardrobe staples that appealed to a wide range of generations. Additionally, Balenciaga unveiled its collaboration with Adidas during the show, featuring oversized tracksuits, hoodies, tanks, t-shirts, shorts, duffle bags, stadium coats, and sneakers. This collaboration created a buzz among the cool-club kids and hypebeasts.
To the surprise of attendees, the collaboration was immediately available for purchase on Balenciaga’s website for one week. The price tags reflected the excess of the 1980s, with socks starting at $210 and a puffer jacket priced at $5,500. T-shirts had an average price of $795, while sneakers were priced at $995. Some styles, such as the “full destroyed” hi-tops, seemed to embrace the greed associated with the ’80s and were priced at $1,850.
As the show approached its finale, the screens in the venue seemed ready to burst before abruptly turning off and displaying a blank white screen. This moment, in the midst of such a financially significant location, served as a reminder that pushing boundaries can sometimes lead to unexpected outcomes. Balenciaga’s historic show on Wall Street in New York City captivated guests and showcased the brand’s ability to merge nostalgia with subversion, creating a one-of-a-kind fashion experience.
Useful links:
Balenciaga Spring 2023 Collection
Balenciaga Official Website
