Nicolas Ghesquiere has parted ways with Balenciaga, the fashion house he’s helmed for 15 years. Why, and who was behind it, is a mystery. Read on for all the exclusive Rescu. gossip on the scandal…
Nicolas Ghesquiere, the much-lauded ‘genius’ behind the Balenciaga name for nearly 15 years, has suddenly stepped down- or been pushed – from its helm.
Both Balenciaga and Ghesquiere himself are stonily silent about the move, aside from a boilerplate statement about their “joint decision”.
Despite every opportunity – and half the world’s fashion editors declaiming their shock on Twitter – Ghesquiere is remaining dumb.
So what went wrong?
Balenciaga’s performance isn’t to blame. The profits of its parent company, PPR, have weathered the recession, and Balenciaga itself has been one of the most critically well received of all the labels in the stable.
There are many theories floating about – and Rescu. is analysing them all for your delectation.
One is that there was some private disagreement between Ghesquiere and the head of PPR, Francois Pinault – possibly about his decision to focus on other big names. (PPR also owns Gucci and Alexander McQueen.)
It’s not too likely, because Pinault is one of Ghesquiere’s greatest business allies – but if it’s true, it would have to be something incredibly serious.
Another is that Ghesquiere was lured away – but by whom, and why, is unknown.
A third is that he decided Balenciaga was too controlling as a venue for his talent, and struck out for greener pastures with more independence.
It’s not even clear whether he quit, as many fashion people have chosen to interpret the news (how can somebody so talented be fired?) or was pushed out of his role.
It’s common in these situations for all parties to be under a legal gag order, so we may never know.
However, Ghesquiere – complete with his famous celebrity clients, including Kristen Stewart – is out of the driver’s seat.
There are now two questions. What will Ghesquiere do next, and what happens for Balenciaga?
Many critics are wondering whether this is suicide for the house, to part with its critical darling and edgy mastermind.
Ghesquiere may start his own label – though whether PPR backs it remains to be seen – or he may reveal who has poached him from his lucrative creative post.
Rescu. will keep you updated on every new movement in this intricate fashion puzzle. What do you think- a good move for Balenciaga, or a crisis?
Update: British Vogue editor Alexandra Shulman has described Ghesquiere as “unarguably one of the biggest talents in fashion” and intimated that nobody at Vogue knew a thing.
Update: It’s now being suggested by gossip that Ghesquiere was jealous of the attention and funds given by PPR to Hedi Slimane, who just took over Yves Saint Laurent (and changed its name to Saint Laurent) and has yet to have a critical success.
Update: Alexander Wang and Joseph Altazurra are the two big names in the running to replace Ghesquiere, says WWD.
Image: Nicolas Ghesquiere.