Following weeks of speculation (and just two days ago, one particularly credible rumor), it's official: Alexander Wang's spring 2016 collection will be his last for Balenciaga. Luxury group Kering, which owns the label, released a statement on Friday confirming that both the designer and the French fashion house will not renew their contract beyond its initial term.
A new creative director for the brand has not yet been chosen, though a search for Wang's successor has already begun, according to WWD's initial report on Wednesday.
Upon exiting Balenciaga, Wang will focus his attention on his namesake label. He said in Kering's statement:
It's been an incredible experience to work with a couture house in Paris. I am honored to have had the opportunity to work for this historical maison. I would like to thank the brilliant team at Balenciaga for their collaboration and for what we have accomplished together, and I am looking forward to taking my own brand to its next level of growth.
Said Isabelle Guichot, Balenciaga's president and chief executive officer:
We are all at Balenciaga extremely grateful to Alexander for his important contribution to the style and history of this iconic house. The dynamic growth of the brand over the last years bears testimony to his successful creative work.
Alexander Wang and Balenciaga could not immediately be reached for comment.