The rumors have been swirling all weekend and now it has been confirmed: this coming Wednesday, Yves Saint Laurent will announce the departure of its current creative director, Stefano Pilati.
Exact reasons why have not been shared with the public, but both parties seem to be ending things on an amicable note.
"We are all at Yves Saint Laurent grateful to Stefano for his important achievements in advancing the mission and success of this historic and treasured fashion house," Paul Deneve, the chief executive officer at YSL, told WWD in an interview.
Among these mentioned "achievements" is the significant financial growth that the company has enjoyed with Pilati at the helm. When the designer was made creative director at YSL eight years ago, the company was operating at a loss of $94 million dollars. Last year, sales grew to $493.2 million (and the brand was profitable).
Pilati acknowledged this to WWD by saying that he is "incredibly proud of what I have accomplished with my teams over the past decade at Saint Laurent."
"I exit the house with fierce conviction in all that we have achieved and deep gratitude to those who have supported me along the way," he continued. "I wish the maison Yves Saint Laurent and its new creative director the very best for the future."
The designer will officially exit after showing his final collection on March 5, but his successor remains a mystery. The style set is buzzing about the return of Hedi Slimane, who was the YSL menswear designer in the late ’90s. (Hey, it’s possible, just look at what’s happening with Jil Sander!) All these surprising fashion house change-ups seem to be happening at rapid speed this season, so watch this spot for more details. (Sheesh, and we thought we had our hands full trying to figure out what’s going down at Dior!)
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