In an unexpected turn of events, it was announced today that Nicolas Ghesquière is departing Balenciaga, effective at the end of this month. During his 15 years as creative director, he transformed the venerable house founded by the Spanish couturier Cristóbal Balenciaga into an artistic hotbed and industry leader.

The decision was mutual, made jointly between Ghesquière and executives at PPR, which owns the label. In a press release, PPR Chairman François-Henri Pinault said, “With an incomparable creative talent, Nicolas has brought to Balenciaga an artistic contribution essential to the unique influence of the house.” It is not yet known where he is headed or who will replace him.