PARIS — Balenciaga has promoted Nathalie Raynaud, a key architect of its recent handbag successes, to deputy chief executive officer, bolstering its executive ranks as it prepares to name a new creative director.

Raynaud, who joined the brand in 2021 and most recently served as chief product officer, takes on the new role effective immediately and reports to CEO Gianfranco Gianangeli, Balenciaga said in a statement shared first with WWD. She succeeds Laura du Rusquec, who left last year to become CEO of Ganni.

Raynaud, who has held merchandising, development and retail roles at brands including Dior, Louis Vuitton and Lanvin, was instrumental in driving accessories at Balenciaga under artistic director Demna, who is set to wrap his tenure at the house with an haute couture show on July 9 before moving to fellow Kering-owned label Gucci.

She oversaw the rollout of the Cagole, Rodeo and Bel Air bag launches, as well as the relaunch of Le City. Accessories have proved a bright spot for Balenciaga amid an otherwise challenging luxury landscape.

“In her new role, Nathalie Raynaud’s mission will be to continue bringing a strategic, creative and product-driven vision that aligns with the house’s objectives to drive sales growth, influence and strengthen market position,” the brand said.

Contacted by WWD, Gianangeli said the appointment would help lay the ground for the next chapter.

“Nathalie has played a key role in shaping our product strategy, establishing our current success in the leather goods category, bringing clarity and direction to an essential part of our business. Her appointment strengthens our strategic focus, especially in the architecture of our collections and product offer and ensures we’re ready to support the vision of our new creative director,” he said.

“At Balenciaga, where culture, community and collaboration are at the heart of what we do, it’s essential that we move forward with coherence and purpose — and Nathalie’s leadership will be central to that,” Gianangeli added.

Meanwhile, Demna paid tribute to Raynaud’s contributions to the brand’s growth. “Working with Nathalie over the past four years has been an incredible partnership. Her precision and dedication to Balenciaga has helped drive our success,” he told WWD via email.

“I am honored to take on this new role and look forward to building on Balenciaga’s success across all products and departments,” Raynaud said.

She began her career in 2006 at Christian Dior Couture in the watches division, before joining Louis Vuitton in 2008, where she spent eight years in senior product and marketing roles across women’s leather goods and accessories.

In 2016, she moved to SMCP, parent of contemporary labels Sandro, Maje and Claudie Pierlot, where she launched and built the accessories business unit. From 2019 to 2021, Raynaud was director of accessories and licensing at Lanvin, playing an important role in the house’s repositioning following its acquisition by China’s Fosun.

Balenciaga parent company Kering is in the midst of an ambitious turnaround effort following two years of disappointing growth. The group, which also owns brands including Saint Laurent, Bottega Veneta and Alexander McQueen, reported a 14 percent drop in revenues in the first quarter, missing low expectations.

Since arriving at Balenciaga in 2015, Demna has revved up the heritage label with supersized tailoring, chunky sneakers, logo tracksuits and drop-shoulder hoodies. Kering is counting on him to breathe new life into the ailing Gucci label, which saw organic sales slide 25 percent in the first quarter.

Francesca Bellettini, deputy CEO in charge of brand development at Kering, said she was scouting a “high caliber” candidate to succeed Demna at Balenciaga. According to market sources, the house has held discussions with designers including Alaïa’s buzzy creative director Pieter Mulier.