10/28/2015 11:28 EDT

Alber Elbaz Exits Lanvin After 14-Year Tenure

He wishes the house "the future it deserves."

WWD is reporting that Alber Elbaz is said to be leaving Lanvin after a stellar 14-year tenure.

According to the publication, an official announcement is expected in the coming days.

Elbaz's departure is said to be a result of "disagreements between the charismatic Israeli designer and company principals: owner Shaw-Lan Wang and chief executive officer Michele Huiban," reports WWD.

His design team was supposedly told of his exit this morning, while the rest of the members of staff at the fashion house were called to a meeting this afternoon at its Paris HQ. Sources say Elbaz has already emptied his office on the Rue du Faubourg Saint-Honoré.

This news come shortly after Raf Simons' shocking resignation from Christian Dior after three-and-a-half years. Elbaz's departure from Lanvin will most likely cause speculation that he may succeed Simons, though there is no confirmation from either fashion house as of yet.

Cue the fashion musical chairs!

UPDATE: Alber Elbaz and Lanvin have confirmed the designer's departure. In a statement, Elbaz characterized his departure as a result of "the decision of the company's majority shareholder." He also wrote, "I wish the house of Lanvin the future it deserves among the best French luxury brands, and hope that it finds the business vision it needs to engage in the right way forward."

You can check out his full statement, tweeted by The Wall Street Journal's Christina Binkley below:

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