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Revenue trajectory showing partnership’s commercial context: Pre-Demna baseline: Approximately $390 million in annual revenue before 2015 creative direction change 2021 peak: Balenciaga crossed €1 billion in revenue, coinciding with Kim’s full immersion as brand muse 2022 peak: Revenue exceeded €1.39 billion before the advertising scandal impact in Q4 2023 decline: Revenue declined to nearly €1.17 billion during post-scandal recovery and restructuring Recovery trajectory: Kim’s official January 2024 ambassadorship positioned her as key asset in brand’s rebuilding strategy The earned media value that made Kim irreplaceable Traditional fashion houses measure ambassador value through campaign reach and brand awareness metrics

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“How many men can you point to who are somewhat public who are good role models today?” Boyer asks

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