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Balenciaga is not renewing its contract with Alexander Wang, according to WWD's sources. The publication hinted earlier this month that the designer and the French fashion house might part ways, and now the spring 2016 show for Paris Fashion Week is reportedly going to be Wang's last with Balenciaga. Parent company Kering’s chief financial officer Jean-Marc Duplaix would only comment that "there are ongoing discussions and I won’t comment further."
WWD didn't name a reason for the impending split. The earlier report suggested that it was difficult for Wang to divide his time between Balenciaga and his own brand, and that he might seeking an investor for his own label. A source tells WWD that Balenciaga might look for a relatively unknown designer to fill Wang's shoes, perhaps inspired by Gucci promoting head accessories designer Alessandro Michele as its new creative director, an appointment which seems to be off to a good start.
Update: Balenciaga and Alexander Wang released a statement on July 31st confirming Wang's departure as creative director.