Iconic Designer, Alexander Wang is Leaving his Highly Publicized Post at Balenciaga.
Balenciaga, one of Fashion’s most well known and successful French fashion houses, and its parent Kering decided not to renew its contract with Alexander Wang. In early July 2015, it was known that the topic regarding renewal of Wang’s contract was being discussed between Kering and Balenciaga, but as of Monday, the verdict has been reached. Precise reasons are still unknown at the moment, as the search for the new Creative Director is still in its early stages.
Wang was hired in December 2012 as a successor to Nicholas Ghesquiere, who now finds himself at Louis Vuitton after a remarkable 15 year tenure. Balenciaga did however experience exceptional growth under the creative direction of Wang, having accelerated double digits in revenue from both retail and whole sale sectors, re-branding Balenciaga, making it more appealing to fashion icons, such as Lady Gaga and Kanye West. Market growth and generating revenue more than 350 million euros or 387.2 million dollars, and the opening of 10 stores as well as refurbishing and enlarging established locations.
Plans for apparel and accessory opportunities were also at the forefront of Wang’s vision for Balenciaga, expanding menswear and knitwear as well as introducing new accessories in womenswear such as the Cable, Le Dix, and Nude bags that are doing extremely well next to Balenciaga’s iconic styles. Wang brought his personality and charm to the brand with his impeccable street style twist meets a gothic mood, often designing many of the collections in black and white, and presenting extravagant, highly talked about fashion shows.
Recently, Gucci promoted Alessandro Michele, an insider to the company, to replace Frida Gianni, and saw nothing but positive feedback, perhaps Balenciaga is looking to do the same thing. And, according to another source, aside from designing for Balenciaga, Wang has been searching for private investors for his own label, perhaps being yet another reason for his separation.
Although, it is still unclear to the public the main reasons for Wang’s departure from Balenciaga, his mark has been made on the luxury fashion house for the better and certainly will not be forgotten. Wang’s last show for Balenciaga will occur during Paris Fashion week September 29th -October 7th, but we all can expect nothing but great things from Wang and his endeavors.
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