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One expert believes the public relations debacle will lead to firings at the luxury brand. Jam Press/Balenciaga But Balenciaga — owned by the French luxury giant Kering, which also owns Gucci, Yves Saint Laurent and Bottega Veneta — will likely take a hit to its bottom line for its poor taste, even as it scrambles to reverse the damage with firings and finger-pointing, experts tell The Post.

Balenciaga could suffer a major financial hit — and lasting damage to its coveted brand — after the pricey luxury label ran an ad campaign with children holding teddy bears wearing sexual bondage gear, industry experts told The Post. When Dolce screwed up in China with inappropriate content, the impact was enormous financially,” Wassner said. “Their ad was insulting and discriminatory.” Balenciaga said all the items in the shoot “were provided by third parties that confirmed in writing that these props were fake office documents. They turned out to be real legal papers most likely coming from the filming of a television drama.”

The fashion house brought the suit Friday against production company North Six, Inc. and set designer Nicholas Des Jardins and his eponymous company for the inclusion in one of the ads of legal documents from a US Supreme Court decision on child porn laws.

On Monday, all eyes in the industry will be on the Fashion Awards at London’s Royal Albert Hall, where Demna, who does not use his surname, has been tipped to win Designer of the Year. The awards are decided by a secret ballot of 1,000 members worldwide, and voting concluded before the scandal broke. Experts likewise question Balenciaga’s claim that it never approved the ads. Another recent ad for a purse depicted a messy desk with papers strewn everywhere, including a Supreme Court decision on child pornography, eagle-eyed social media investigators found.Amid scrutiny of the contentious campaign, one eagle-eyed watchdog spotted the high court documents about child pornography laws. Brand ambassador Kim Kardashian, who modelled in July’s haute couture catwalk show in Paris, is “re-evaluating” her relationship with the house. “As a mother of four, I have been shaken by the disturbing images,” she tweeted, although she stopped short of direct criticism of Demna or Balenciaga. We strongly condemn abuse of children in any form. We stand for children’s safety and well-being,” the company concluded. On Tuesday, the company issued an apology and announced it had pulled the teddy bear ads and court paper ads. I don’t see how they defend themselves, quite honestly,” luxury marketing expert Pam Danziger told The Post. “I think this will have a very strong impact on the brand ultimately.”