Belgain Designer Vaccarello To Replace Slimane At YSL; He Will Stop Developing His Eponymous Label

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Anthony-Vaccarello

Last week, donbleek.com exclusively reported that¬†Hedi Slimane¬†made¬†his second exit from the creative helm of Yves¬†Saint Laurent. The news was confirmed in a brief joint statement issued by Yves Saint Laurent and¬†Kering, the luxury group which owns the French house. In the same story, we also mentioned that¬†Slimane‚Äės successor is Anthony Vaccarello, and he will start as soon as May 1 ‚Äď in time for the spring 2017 shows in Paris this fall (see it all here).

Today, we learned¬†that French luxury group Kering¬†will officially announce¬†that the Belgain designer (Anthony Vaccarello) is the house’s new creative director, a source told Reuters.

It has been signed. It should be announced on Monday,” the source told Reuters, on condition of anonymity.

The source added that “before Vaccarello accepted the job he agreed to stop developing his own brand and to focus solely on Yves Saint Laurent (YSL).”

When Slimane arrived in 2012, he stamped his identity on Yves Saint Laurent and turned it into a grunge label that found favor among wealthy fashion-conscious buyers and became Kering’s fastest growing brand.

Known for controlling everything from advertising campaigns that he shot himself to the content, look and feel of the brand’s website, Slimane had renamed the label Saint Laurent, but Kering referred to the brand as Yves Saint Laurent in its statement on Friday.

Slimane helped more than double YSL’s sales to 974 million euros ($1.1 billion), making it one of only a few fashion brands to have achieved revenue of around $1 billion, along with Qatari-controlled Valentino.

Analysts estimate YSL will contribute around 12 percent of Kering’s operating profit growth over the next three years.

Citi analysts said YSL’s strong sales growth “was partly driven by the favorable halo effect from a star designer like Hedi Slimane”, as well as a successful transition into leather goods. They also noted its operating margin had reached a record 20 percent in the second half of 2015.

We expect Kering management to have a credible contingency plan and be in a position to announce his successor soon, the Citi analysts said.

YSL sits alongside sister brand Gucci, which generates more than half of the group’s operating profit. Kering also owns Balenciaga, Stella McCartney and Alexander McQueen, and controls sports brand Puma.

Photos Credit: Pierre Morel 

Source: Reuters

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Donovan

Donovan is the CEO and Editor-In-Chief of www.dmfashionbook.com. For all general inquiries please email don@dmfashionbook.com Donovan has a BA in Journalism & Media Studies from the prestigious Rutgers University. He's currently studying entertainment and fashion law.