After a few months of speculation, WWD reports that Alexander Wang will be leaving Balenciaga after 3 short years as designer for the French house. No specifics at the time have been released about the reasoning behind the decision. Wang, who operates his namesake label out of NYC, may be leaving to devote more time and energy to his own label which is a thriving business.
Kering, the parent company currently behind the Balenciaga label, has not yet released a statement. In the few years that Wang was behind the the brand, they saw a double digit growth in sales and oversaw the opening of new stores, bringing the houses total to 90 global locations. The house brings in a large percentage of its yearly revenue from its luxury leather goods, from shoes to handbags.
As for who will be taking over the helm of the brand, which will be celebrating its centennial in 2017, that has yet to be discussed at this early stage. Kering, who also operates Italian brand Gucci, may be seeking a newcomer to take over the position. Gucci, which reportedly has seen a steady growth in sales, recently appointed relatively unknown designer Alessandro Michele to take control.
It’s reported that Alexander Wang will show his last collection for the house this September during the Spring Summer 2016 collection showings in Paris.