Balenciaga Leaves Twitter After Elon Musk’s Acquisition
Balenciaga has officially left Twitter following Elon Musk‘s acquisition. The luxury brand’s decision to exit the social media platform comes after several major brands like General Motors and Dyson have suspended their ad campaigns on Twitter and celebrities like Gigi Hadid left the platform as well.
Since the acquisition in late October, Elon Musk’s strategic decisions and implementation plans have caused stakeholders and users alike to be concerned. Musk had initially expressed plans and has gone through with a mass layoff when he stepped into his role as CEO. He also plans to focus much of his efforts to promoting free speech, all while minimizing content moderation on the website.
Business of Fashion reports that over the years, fashion companies have relied less and less on Twitter to create online buzz. However, Kering-owned Balenciaga has garnered much discussion with its latest Demna-led collections including the $1,790 USD leather trash bags and $950 USD Crocs.
It remains to be seen if other luxury brands will follow suit.
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