Phoebe Philo to Exit Celine After 10 Years

Phoebe Philo - Getty - H 2017
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It's the end of an era.

Turns out the rumors were true: Phoebe Philo is stepping down at Celine after 10 years at the helm.

"Working with Celine has been an exceptional experience for me these last 10 years. I am grateful to have worked with an incredibly talented and committed team and I would like to thank everyone along the way who has been part of the collaborations and conversations… it's been amazing," Philo wrote in a statement to her teams.

Bernard Arnault, chairman and chief executive officer of Celine's parent company LVMH, added: "What Phoebe has accomplished over the past ten years represents a key chapter in the history of Céline. We are very grateful to Phoebe for having contributed to the great momentum of this maison. A new era of development for Céline will now start and I am extremely confident in the future success of this iconic maison."

Philo's last collection for Celine will be presented in March. Her successor has yet to be announced.

The British fashion designer's spring 2018 runway show surprised and delighted, according to The Hollywood Reporter's Booth Moore. "In a time when female power, and what that looks like, is at the center of the zeitgeist, Philo played with many of its signifiers, from broad-shouldered 'power suit' jackets, to basic anatomy," wrote Moore.

A source tells WWD that she will not be working for another fashion house in the near future. It's been rumored that Philo could head to Burberry since Christopher Bailey announced in October that he would be leaving the iconic British brand in 2018 after a 17-year stint.

Philo, who previously worked at Chloe with Stella McCartney, helped revive the house with her signature luxe minimalist aesthetic. She was named as one of the most influential figures in the Time 100 list in 2014. McCartney, who wrote Philo's Time profile, described her friend as someone who "celebrates the simple and champions the quality and reality of a woman's wardrobe."

Philo has been responsible for several of the brand's It bags that have been favored by Reese Witherspoon, Miranda Kerr, Demi Lovato and the Kardashian/Jenner family. In September, Virgil Abloh put it best when he said, "Celine is everything."

8:08 a.m. Friday, Dec. 22: Updated with Philo's and Arnault's statements from LVMH.