|Excerpt from the Balenciaga Spring/Summer 2013 runway video with Nicolas Ghesquière (Balenciaga)
Nicolas Ghesquière, the creative director at Parisian label Balenciaga since 1997, will be parting ways with the label at the end of the month, announced PPR, the owners of the brand.
Nicolas Ghesquière will part ways with Balenciaga in a decision effective from November 30.
In a statement released Monday, François-Henri Pinault, Chairman and Chief Executive of PPR, thanked Ghesquière for his time at the label:
"Cristóbal Balenciaga was a master, a genius whose avant-garde vision dictated fashion's greatest trends and inspired generations of designers. With an incomparable creative talent, Nicolas has brought to Balenciaga an artistic contribution essential to the unique influence of the house."
The brand has recieved plaudits from critics for its recent collections and the label's association with Kristen Stewart for a new perfume, Florabotanica.
Speculation is that the house will promote Ghesquière's successor from within, and designer Natacha Ramsay-Levi, girlfriend of Purple Magazine editor Olivier Zahm, is being touted by sources as a frontrunner to take over the reins at the famous house.
La Maison Balenciaga has been part of the PPR Group since 2001, and is one of the biggest names in fashion. Founded by Spaniard Cristóbal Balenciaga in 1919, and established in Paris in 1936, it has witnessed a recent creative resurgence under Ghesquière's direction.