Balenciaga x Under Armour Reversible Beanie Black/Red

This is the Balenciaga x Under Armour Reversible Beanie in black and red, a knit beanie from the first collaboration between the Paris house and the American performance brand. It's for anyone who wants a piece of that crossover in its most wearable, everyday form rather than committing to the collection's outerwear or footwear.

It's a close-fitting knit skull cap with no turned-up cuff and a scalloped picot edge running along the hem. The front carries Under Armour's interlocking logo in red with BALENCIAGA spelled out beneath it in the same color, the two marks stacked together the way the collection pairs them throughout. Built as a reversible knit, it flips between its black and red sides, so one hat covers both a quiet look and a louder one through cold weather.

What sets it apart from a standard luxury beanie is the co-branding itself. Balenciaga rarely puts another company's logo alongside its own, and this was its first project with Under Armour, introduced around the house's Spring 2025 show in Shanghai. Buy it if you collect collaboration pieces rather than mainline designer knitwear.