Alexander Wang is indeed set to replace Nicolas Ghesquière at Balenciaga. According to WWD, the rumored changeup was confirmed by market sources last night, but neither Wang's nor Balenciaga's people have yet to confirm the news. Wang's nomination to take over the prestigious helm at Balenciaga — today marks Nicolas Ghesquière's official last day at the brand — has no doubt come off as a surprising choice. Since launching his full namesake collection in 2008, Wang has been touted as the cool New York designer, recognized for his tomboy aesthetic, slouchy muscle tees, and covetable studded Rocco bag. Meanwhile, Balenciaga's brand has always focused on tight tailoring, structure, and inventive use of color. Because Wang's boy-wonder status and business acumen have garnered much respect in the industry, it could be that Balenciaga is looking to revamp their brand, hoping to add a younger, more accessible tilt to its almost century-old luxury goods. We'll update you with details once we hear more, but for now, check out Alexander Wang's latest Spring '13 collection, and tell us whether you're excited for his new role as the new creative director at Balenciaga.