巴黎 = Paris + 世家 = 'family of renown'. Not a phonetic match for 'Balenciaga' — this is a semantic rebrand ('a Parisian house of pedigree') done for the Chinese market.
Spanish-founded (Cristóbal Balenciaga, 1919), now a French luxury house under Kering. The Triple S 'dad shoe' (老爹鞋) ignited the chunky-sneaker trend in China around 2017-2019.
