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Balenciaga was founded in Paris in 1937 by Spanish designer Cristóbal Balenciaga. For 50 years he designed clothes for the élite European aristocracy with originality and elegance. Fast forward to present time: Nicolas Ghesquière has been the brand's head designer for fifteen years and was replaced in 2012 by Alexander Wang, who left after three years, in 2015. Balenciaga is always eclectic and futuristic. It is much loved by celebrities like Madonna or Sinéad O'Connor, Nicole Kidman, Jennifer Connelly and other celebs who have often chosen outfits by the house for the Oscars or other red carpet events. The iconic "City" bag is a must-have piece for all fashion addicts. The fashion house's new creative director is Georgian designer Demna Gvasalia, .