Alexander Wang is reportedly in talks with the private equity firm General Atlantic following Balenciaga's decision not to renew his contract.
Alexander Wang is in talks with the private equity firm General Atlantic.
The 31-year-old designer has reportedly been meeting with the firm - who have invested in companies including Tory Burch, Airbnb and BuzzFeed - following the news Balenciaga have chosen not to renew his contract as creative director of the brand, WWD reports.
The Spanish fashion house and its parent company Kering have yet to reveal why they've chosen to let Wang go in favour of a ''lesser-known'' successor, but it's been claimed his final show will take place during Paris Fashion Week in September 2016.
A source said previously: ''Kering is open to considering a lesser-known, hidden talent for the plum post, emboldened by the positive feedback and outpouring of goodwill it had in promoting Gucci insider Alessandro Michele to succees Frida Giannini at the helm of the Italian brand earlier this year.''
Alexander's stint at the helm of Balenciaga has been relatively short-lived compared to the career of his predecessor, Nicholas Ghesquiere, who enjoyed 15 years in the creative director chair, before leaving to take up the top job at Louis Vuitton in 2012.
It was rumoured earlier this month that Alexander was in talks to renew his contract.
A spokesperson for Kering said: ''There are discussions between the designer and Balenciaga regarding the renewal of the contract''.
However they refused to discuss the ''likelihood of an agreement''.
Yes, I know, it's far too early to call out contenders for the Top Ten Albums of 2021 but, if 'In Quiet Moments' by Lost Horizons doesn't feature...
Wolf Alice make a long awaited return ahead of the release of their third album with a new single and video, 'The Last Man On Earth'.
Tom Odell returns with new song, 'numb', his first single in nearly two years.
Way, way back in the February of 1980 one twenty year old Bryan Adams released his eponymous debut album, paving the way for the start of his...
As the second month of 2021 gets ever nearer we take a look at the new releases that are set to delight our ears over the coming weeks.
"With great regret, we must announce that this year's Glastonbury Festival will not take place," came the not altogether unexpected announcement from...