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

Balenciaga has named Pierpaolo Piccioli as its new creative director. Piccioli, who previously led Valentino, will oversee women’s wear, men’s wear, accessories, and couture for the brand. The appointment comes after 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.