Designer Ghesquière to leave Balenciaga

PARIS - Balenciaga's designer Nicolas Ghesquière, one of the most acclaimed of his generation, is leaving the French fashion house after 15 years at its helm, the PPR luxury group announced on Monday.

"The Balenciaga fashion house and Nicolas Ghesquière have announced their joint decision to end their working relationship as of 30 November 2012," a PPR statement said.

"With an incomparable creative talent, Nicolas has brought to Balenciaga an artistic contribution essential to the unique influence of the house," the statement quoted PPR chief executive Francois-Henri Pinault as saying.

The house was founded by the Spanish couturier Cristobal Balenciaga, considered a pivotal influence on 20th century fashion.

The luxury group, which has owned Balenciaga since 2001, said it would announce the name of his successor at a later date.

The 41-year-old Ghesquière, Balenciaga's artistic director since 1997, won fans the world over for his radical designs, striking a high note at Paris Fashion Week in September with a playful, couture-inspired look.

In 2001 he was named "International Designer of the Year", beating out competition from Karl Lagerfeld and the late Alexander McQueen.