Pierpaolo Piccioli is the new creative director of the iconic fashion house Balenciaga. Parent company Kering announced Monday that he replaces Demna.

Kering said it appointed Pierpaolo Piccioli as the new creative director of Balenciaga as the French luxury group faces a slowdown in demand for high-end goods, coupled with its own turnaround challenges.

The seasoned Italian designer starts on July 10 and is to present his first designs in October during Paris Fashion Week.