Hedi Slimane Departs Saint Laurent After Four Years

Hedi Slimane has left the creative helm of Saint Laurent, with his contract expiring March 31. Kering, parent of the legendary fashion house, said the separation comes at the end of a "four-year mission, which has led to the complete repositioning of the brand."

Slimane's anticipated successor Anthony Vaccarello is expected to start as soon as May 1, a date giving him time to create a collection for the spring 2017 shows in Paris this fall. Vaccarello. a 33-year-old Belgian designer was recruited in 2013 by Donatella Versace to lead the reboot of her Versus brand. Last September, Versace named him creative director of Versus.

WWD reports that Vaccarello will join one of the fastest-growing fashion houses in Europe.

Saint Laurent recorded revenues of 974 million euros, or $1.08 billion, last year with a network of 142 stores – far fewer locations than mega brands such as Gucci, Dior, Chanel or Louis Vuitton.

Thomas Chauvet, luxury analyst at Citi, downplayed the impact of Slimane’s exit on the brand’s future performance, arguing its growth prospects and potential for margin expansion remain intact.

In a research note on Friday, Chauvet said the brand registered its highest operating margin ever in the second half of 2015 – approximately 20 percent – and this should rise on scale effects, more leather goods sales, pricing, maturity of the store network and “better absorption of fixed costs.”

Slimane if the fourth major creative director to leave a high-profile luxury fashion brand since July when Alexander Wang left Kerring's Balenciaga. Raf Simons stepped down in October from his duties at Christian Dior SC, followed quickly by the departure of Alber Albaz at Lanvin.