There’s Big Money In BUSSINES
In a move that surprises literally no one, Balenciaga made the decision to remove its Twitter account. It became the first major fashion brand to say good riddance to the social media platform—and most likely won’t be the last.
Huge corporations like Dyson and General Motors have stopped advertising campaigns and stars like Whoopi Goldberg and Shonda Rhimes opted out of using the app following Elon Musk’s acquisition.
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Weeks of Twitter being led by the Tesla and SpaceX CEO have been pure chaos. Even though Musk promised the promotion of free speech, he caught major backlash for the racist language that ensued. He also tried to make users pay for blue checkmark verification—a move that immediately backfired.
Brands and companies have also become more and more worried about being associated with hate speech and misinformation on Twitter. Numerous fake accounts pretending to be brands last week proved these fears were completely founded. Musk has also come under fire for mass layoffs, which many have pointed out was allegedly illegal for him to do.
According to The Business of Fashion:
A September incident in which advertisements appeared on pages promoting links to child pornography highlighted the potential risks of Musk’s strategy, as did a slew of false accounts impersonating brands last week, which were allowed to purchase “verified” labels on the site. While Twitter’s importance to the fashion industry has waned in recent years, the platform has been a significant source of online buzz for Kering-owned Balenciaga, as creative director Demna sparked conversation with designs including oversized sportswear, sculptural couture and divisive pieces like $1,790 leather trash bags and $950 Crocs. Balenciaga’s account recently had as many as 950,000 followers.
Balenciaga has been known for setting trends—and we’re sure other luxury labels will follow its lead and leave Twitter as well.
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