PARIS, France—Balenciaga named German wunderkind Demna Gvasalia as its new creative director on Wednesday, rewarding the Georgian-born designer for the success he had achieved with his groundbreaking Paris-based label Vetements.

In an announcement timed to coincide with the final day of the Paris 2016 spring/summer ready-to-wear collections, Balenciaga said Gvasalia would replace Alexander Wang and stage his first show for the brand in March 2016.

American designer Wang presented his last collection for Balenciaga in Paris on Friday after three years with the fashion house.

Gvasalia will also continue to lead the creative team at Vetements, the edgy brand that the Antwerp-trained designer launched in 2013.

He had also worked for Maison Martin Margiela and had a short stint at Louis Vuitton.

Francois-Henri Pinault, the president and chief executive of Balenciaga’s parent company Kering, described Gvasalia as “a powerful emerging force in today’s creative world.”