The Fancy has yet to officially confirm the news, but there’s no doubt that now is an important time for the four-year-old site.
We spoke with founder and CEO Joseph Einhorn about what The Fancy is, how it’s grown so quickly, the importance of having Kering’s Francois-Henri Pinault on board, why Zara is one of his biggest inspirations, and more.
Though Alexander Wang has already been at the helm at Balenciaga for about six months, the back story of how he came into that position is still coming together. While we knew Anna Wintour may have given him a nudge in the right direction, we didn’t know that Wang had flat-out turned Kering (formerly PPR) CEO Francois-Henri Pinault down:
There are just two days standing between us and what’s arguably this fashion month’s most highly-anticipated event: Alexander Wang’s debut for Balenciaga. So Suzy Menkes talked to him, Anna Wintour, PPR CEO François Henri Pinault, and, um, Danielle Steel to dig up some backstory, debunk some rumors, and find out what to expect from Wang’s elevated new role.
Good things come to those who wait.
After speculation that Scottish designer Christopher Kane would take over the house of Balenciaga turned out to be only that—speculation—it has been announced that PPR, the luxury goods conglomerate that owns Balenciaga, as well as Alexander McQueen, Gucci and Yves Saint Laurent, now owns a 51% stake in Kane’s London-based fashion house.
François-Henri Pinault, President and CEO of PPR, which owns Balenciaga, sat down for a lengthy Q & A session with CBS’s Rebecca Jarvis yesterday at the French Consulate in Paris. They discussed many things, like the “fiscal cliff,” ecommerce, the American market, and of course, the decision to install Alexander Wang at Balenciaga–which is all we’re interested in.
The most interesting nugget to come out of the interview was the mention of couture at Balenciaga.
Now that we know who is going to take the reins at Balenciaga (it’s Alexander Wang, in case you’ve been living under a rock), the next question on everyone’s minds is: What will change under the new designer?
Well, according to the CEO of Balenciaga’s parent company PPR, François-Henri Pinault, not a whole lot.
Balenciaga parent company PPR just announced that Balenciaga and Ghesquière have made the “joint decision to end their working relationship as of 30 November 2012.”
Could this be a white flag in the on-going dispute between designer Hedi Slimane and critic Cathy Horyn?
Slimane has removed all his tweets about Cathy Horyn, including the original open letter. There is no explanation left in it’s place, so we’re left to wonder what motivated the designer to delete them at all.