07/29/2015 11:34 EDT | Updated 07/29/2015 11:59 EDT

Alexander Wang And Balenciaga Could Be Severing Ties

FILE - This Sept. 8, 2012 file photo shows designer Alexander Wang after his Spring 2013 collection was modeled during Fashion Week, in New York. Wang is taking over the creative direction of storied Paris fashion house Balenciaga.The company made the announcement on Monday, Dec. 3, that 28-year-old Wang would fill the spot vacated last month by Nicolas Ghesquiere. (AP Photo/Richard Drew, file)

(Relaxnews) - Fashion designer Alexander Wang is reportedly parting ways with luxury clothing brand Balenciaga.

Balenciaga and parent company Kering will not be renewing the US designer's contract, which would make the spring 2016 Paris Fashion Week their last hurrah together, according to a Women's Wear Daily report.

Reasons for the split remain unknown, although industry insiders say the brand will replace Wang with another designer.

If this is true, Balenciaga's spring 2016 show during Paris Fashion Week will be Wang's last.

A source told WWD that Kering is "open to considering a lesser-known, hidden talent" for the post.

Wang was hired in December 2012 as the successor to Nicolas Ghesquiere, who was at the helm of the brand for 15 years.

With files from Madelyn Chung.

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