French luxury house Balmain and creative director Olivier Rousteing are going their separate ways, the fashion house announced on social media on Wednesday. The announcement marks the end of one of the longest tenures in recent fashion history.
“I am deeply proud of everything I have accomplished and eternally grateful for my extraordinary team at Balmain, my chosen family, in a place that has been my home for the past 14 years,” Rousteing said in a statement. “My thanks go to Mr. Rachid Mohamed Rachid and Matteo Sgarbossa for their unwavering trust in me and for giving me this extraordinary opportunity.”
Balmain will announce a successor to Rousteing in due course, the statement said. Regarding his own future, the designer said he is looking forward to the coming chapters of his creative journey and will always keep this precious time close to his heart.
“I would like to express my deep gratitude to Olivier for writing such an important chapter in the history of the House of Balmain,” said Balmain CEO Matteo Sgarbossa. “Olivier’s contribution and passion over the past few years will leave an indelible mark on the history of fashion.”
Time of upheaval at Balmain
Olivier Rousteing joined Balmain in 2011 aged just 25, becoming the youngest non-founding creative director to lead a leading Parisian fashion house since Yves Saint Laurent at Dior in 1957. He also made history as the first Black creative director of a storied French house across all design categories, long before Virgil Abloh took over as head of Louis Vuitton Menswear in 2018.
Rousteing’s farewell comes at a time of upheaval at Balmain. The company appointed Stefano Sgarbossa as CEO back in April. He succeeded Jean-Jacques Guével, who resigned from his post in March after four years. At the time, Balmain chairman Rachid Mohamed Rachid said he trusted the new CEO’s energy and global market knowledge would be crucial at this stage and that the partnership with the designer would lead to a successful chapter in the house’s history.
Now, however, the 80-year-old fashion house is beginning a new chapter without Rousteing, despite continued growth under his creative direction. According to fashion magazine Vogue, Balmain achieved sales of 30.4 million euros in 2012, the first full year under Rousteing, with a profit of 3.1 million euros. Last year, sales were estimated at around 300 million euros.
Note d. Editor: This article was updated with further information on November 5th at 3:58 p.m.