UPDATE: Balenciaga and Alexander Wang have confirmed that they’ll be partying ways, Balenciaga’s parent company, Kering, confirmed on Friday. According to the statement, it was a “joint decision” to not renew their contract. Wang's final collection for Balenciaga will show at Paris Fashion Week for the Spring/Summer 2016 season on October 2.
"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," Wang said in a statement.
"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," Isabelle Guichot, Balenciaga’s president and chief executive, said.
François-Henri Pinault, chairman and chief executive officer of Kering, “heartfully” thanked Wang for his “dedication and unique artistic contribution to the building of Balenciaga in a more globally recognized house.”
**The rumor mill continues to swirl about the fate of Alexander Wang at Balenciaga and today WWD is reporting that the end is nigh. The industry’s long-adored darling is supposedly winding down his three year tenure at the French fashion house, with the Spring 2016 collection reportedly to be his last.
When Wang took over for Nicholas Ghesquière at Balenciaga in 2012, the fashion world was cautious at best. At that point, Wang’s eponymous line was associated with downtown kids and dance parties. Though their visions differed greatly, Wang’s effervescent nature brought a vitality to the house that was ultimately refreshing. He mined the Balenciaga archives, extracting some of the more classic couture silhouettes and presenting them with a chic and modern twist and made the accessories a must-have on every editor’s wish list.
Despite the brand revealing that they have indeed grown and profited under Wang’s vision, Kering (the parent company), has reportedly decided not to renew the American designer’s contract and supposedly is looking for someone in-house to lead the charge. (Inspired by the recent quiet success of Alessandro Michele at Gucci perhaps?)
Fortunately, Wang has a lot to focus on this Fall with his main line’s impending 10-year anniversary extravaganza.