When Alexander Wang was appointed Creative Director of Balenciaga in December 2012, stepping into the shoes of Nicholas Ghesquière, he was tasked with injecting his signature brand of cool, youthful sprtswear into the heritage label. And it seemed to be working. But, two and a half years on, could his tenure already be coming to an end? WWD is reporting that the designer is currently in negotiations with the fashion house about the renewal of his contract – and that it may not be renewed at all.
Both sides admit that discussions are taking place but that’s all that they’ll say. The sticking point is unclear – the label is making a profit and has upped its number of stand-alone stores from 3 to 70 over the past three years alone. But sources have told WWD that Wang ‘…has been quietly seeking an investor for his privately held namesake brand, and may feel tugged between responsibilities at both businesses.’
With the industry’s finest currently rubbing shoulders at the couture shows in Paris, you can bet that the rumours about his departure – not to mention his possible successors – will be the most-discussed front row topic. Watch this space for news.