It keeps popping up in places I read, is it astroturfed crap/distraction or is there something about it?
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Well, just in case it is real, here's Balenciaga's parent company.
https://en.m.wikipedia.org/wiki/Kering
And here are their brands :
Balenciaga, Alexander McQueen, Bottega Veneta, Gucci, and Yves Saint Laurent.
Lastly, their stock ticker is KER.PA
Their rival company would be LVMH, most likely. I can't think of any other companies that sell expensive crap like Balenciaga does.