Balenciaga died in 1972, and the house didn't fully regain its footing until Ghesquiere took over in 1997 and brought critical acclaim along with pop-star fans such as Beyonce and Rihanna.
Wang has a similar celebrity appeal, and he's a favorite with fashion editors and the models. At his show last February, for example, he staged a catwalk comeback for the likes of Gisele Bundchen, Carmen Kass and Shalom Harlow.
Wang will continue his New York-based signature collection.
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