Update: Alexander Wang will replace Nicolas Ghesquière as the creative director of Balenciaga. In an official announcement released this morning, PPR and Balenciaga announced that Wang will design the brand's women's and men's ready-to-wear, as well as accessories and image. Wang will continue to oversee his own namesake label as well.
"I am deeply honored to embark on this new role for a brand and house that I have such great admiration and respect for," Wang said in the release.
As for what a Wang-helmed Balenciaga will look like, it's anybody's guess. "Alexander Wang will use his creativity and his own research to reinterpret and immortalize the distinctive, modern, and extremely innovative style imposed by Cristóbal Balenciaga," explained François-Henri Pinault, CEO of PPR.
The news comes just a few days after both WWD and Cathy Horyn released independent reports that Wang was the rumored front-runner for the job.
Meanwhile, last Friday was Ghesquière's last day at Balenciaga. He announced earlier this month that he would leave the house after 15 years at the helm.
— Additional reporting by Christina Pérez