Let’s be honest, we all saw it coming. In the current climate of playing professional musical chairs (playing musical chairs professionally is a totally different matter and if it doesn’t exist, definitely should but we digress), the fashion industry has seen a lot of change these past few months. Creative Directors bade farewell, only to have their empty chairs filled in a snap. With Alexander Wang leaving Balenciaga, it is only natural for him to refocus on his eponymous brand, and take the reins as CEO and Chairman – all while remaining Creative Director. (Is there no such thing as too much work or indeed, too many titles?)
Of course, this move is nothing shocking. Already, we’ve seen instances of similar multi-tasking capabilities, with Christopher Bailey filling the shoes of Burberry’s CEO and Chief Creative (following the departure of then-CEO Angela Ahrendts in 2014). Tory Burch is similarly both CEO and Creative Director of her namesake brand.
To make way for Alexander Wang, Ying Wang will be stepping down as Chairwoman, and Aimie Wang will relinquish her role as CEO – both however will remain board members and are of course shareholders. Mary Wang, previous President of the DKNY Brand, has been appointed Executive Vice President, while Caroline Wang of IBM (she was Vice President of Marketing, Information, Technology and Business Transformation in Asia Pacific) will take on the role of Executive Vice Chairman.
“We are aligning our leadership structure to continue building our business process, becoming more efficient, and strategically laying the groundwork for future growth,” stated Caroline Wang.
“Personally, I am excited to take on the new challenges of the CEO and Chairman role,” added Alexander Wang, “The business side has always come naturally to me, and with my full-time return to New York, I want to focus on my brand’s strategic growth.” We’re excited for you too, Mr Wang and yes, all those Wangs are indeed part of the same clan.
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