Nicholas Ghesquière is out at Balenciaga

Balenciaga's Creative Director, Nicholas Ghesquière, has announced his departure at the renowned fashion house. 

Francois-Henri Pinault , Chairman of PPR, released the statement (below):

With an incomparable creative talent, Nicholas has brought to Balenciaga an artistic contribution essential to unique influence of the house. Cristobal Balenciaga was a master, a genius whose avant - garde vision dictated fashion's greatest trends and inspired generations of designers."

Ghesquière departure will be effective on November 30.