Nicola Formichetti to Exit Diesel After 5 Years

Darren Gerrish/WireImage

The designer will resign at the end of the year.

Nicola Formichetti will exit his post as artistic director of Diesel at the end of the year. The Italian-Japanese designer, who joined the company as its first artistic director in 2013, announced the news on Instagram on Monday.

"I’m sad to announce that at the end of this year I will be stepping down as artistic director of @diesel," Formichetti captioned a photo of himself alongside Renzo Rosso, president of Diesel's parent company, Only the Brave. "Thank you all at diesel for the most amazing 5years!! And thank you @renzorosso for allowing me to be creative. It was so much fun!!! Wishing Diesel all the best for the next chapter."

Rosso posted a similar message wishing Formichetti well on his own Instagram account, writing, "I wish you all the best for your future!"

Prior to signing on as artistic director at Diesel, Formichetti held the title of artistic director of Mugler from 2010 to 2013; he began his career as an editor for publications including Dazed & Confused and V Magazine. He is also a frequent collaborator with Lady Gaga, and styled much of her early work.

The positive nature of the departure announcement makes us wonder if Formichetti's exit signals a brighter adventure on the horizon — there are, after all, several open creative director positions that are ripe for the taking. Just last week, Diane von Furstenberg revealed that after just 18 months, creative director Jonathan Saunders would be leaving the company. Additionally, rumors about who will succeed Donatella Versace at Versace continue to swirl.