In 1986, Jacques Bogart S.A. acquired the rights to balenciaga , and opened a new ready-to-wear line, Le Dix. The first collection was designed by Michel Goma in October 1987, who remained at the house for the next five years to mixed reviews. He was replaced in 1992 with Dutch designer Josephus Melchior Thimister who began the restoration of balenciaga handbags to an elite, high-fashion status. During Thimister's term, a young Nicolas Ghesquiere would join as a license designer, and eventally promoted to head designer in 1997. balenciaga Wallets is now owned by the Gucci Group (part of PPR), and its womenswear and menswear is headed by Nicolas Ghesquire. Ghesquiere, like Balenciaga, is a self-taught designer, and apprenticed to Jean-Paul Gaultier and Agnes B.
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