BREAKING: Nicolas Ghesquiere Out at Balenciaga

BREAKING: Nicolas Ghesquiere Out at Balenciaga
(Getty) Nicolas Ghesquiere with actress Jennifer Connelly in New York in 2010

Shock announcement this morning: Nicolas Ghesquiere, the much-heralded creative director who's been credited with building Balenciaga into the must-have luxury label over the past 15 years, has left the company.

No definitive reason was offered, besides a brief press release under the headline: "The Balenciaga fashion house and Nicolas Ghesquiere announce their joint decision to end their partnership."

"Cristobal Balenciaga was a master, a genius whose avant-garde vision dictated fashion's greatest trends and inspired generations of designers," said PPR Chairman and CEO Francois-Henri Pinault in the statement. "With an incomparable creative talant, Nicolas has brought to Balenciaga an artistic contribution essential to the unique influence of the house."

More details here as the story unfolds.
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