The rumours that Hedi Slimane is parting ways with Saint Laurent have been confirmed after an official announcement.
The designer's contract with the famed fashion house expires this week and many within the fashion industry have speculated that the departure was imminent.
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Hedi's departure from the brand has been confirmed
"What Yves Saint Laurent has achieved over the past four years represents a unique chapter in the history of the house," said Francois-Henry Pinault, chairman and chief executive officer of Kering, in a statement on Friday morning.
"I am very grateful to Hedi Slimane, and the whole Yves Saint Laurent team, for having set the path that the house has successfully embraced, and which will grant the longevity to this legendary brand."
Francesca Bellettini, president and CEO of Yves Saint Laurent, stated today: "I would like to thank Hedi Slimane very much for his vision in reforming such an iconic house as Yves Saint Laurent. The direction that has been taken over the last four years represents an incredible foundation for the brand to build on for its continuous success."
Now, the industry waits to see who will replace Hedi, though his successor is widely thought to be Anthony Vaccarello.