Alexander Wang BalenciagaStephen Lovekin/WireImage

It’s official: Alexander Wang is the new creative director of Balenciaga! PPR, the company that owns the label, confirmed the appointment today after a week of speculation. “I am deeply honored to embark on this new role for a brand and house that I have such great admiration and respect for,” says the 28-year-old designer, who as creative director, will be responsible for the ready-to-wear collections for both men and women, accessories, and the brand’s image, in addition to leading his own eponymous labelWang takes the place of Nicolas Ghesquière, who left the company on Friday after 15 years, and follows in the footsteps of superstars like Oscar de la Renta, Emanuel Ungaro, and Hubert de Givenchy, who all led the house during their careers. Surely, this will be one of the most anticipated debuts of 2013. InStyle managing editor Ariel Foxman says: “I cannot wait to see how Wang will bring his uniquely contemporary vision to such a lustrous, storied, and innovative fashion house.” Let the countdown to Wang’s first runway show for Balenciaga begin!

Plus, see stars who love Wang!

alexander wang fans

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