There has been no confirmation on who is going to take over the creative leadership, however, it is believed that the search is still in the early stage. Kering is keen on the idea of a lesser known talent to head the brand, a similar route that Gucci and Alexander McQueen took when the leadership position was vacant.
Mr. Wang took over the position from Nicolas Ghesquire, who is currently taking a similar role in Louis Vuitton, in December 2012.
It is not known on why the contract between Balenciaga and Alexander Wang wasn’t renewed when Kering reportedly released a healthy financial report on the brand.
Balenciaga chief executive officer Isabelle Guichot at the time said that the brand had double-digit gains last year and it was fueled by “almost all categories, from retail and a very healthy wholesale business.” Balenciaga counts about 500 wholesale doors in the world.
Based on the current trend, it is most likely that Kering will promote an in-house designer who has been working with the brand for several years. It is a logical and financially-sound decision since the designer will most likely know the brand DNA very well and it will definitely be cheaper than to hire a public-figure fashion designer like Alexander Wang. The brand name, Balenciaga, is strong enough to be carried by a lesser-known designer.
To be honest, we’re not a big fan of Alexander Wang’s design. For us, they are usually a glorified version of sportswear.