Paris Fashion Week Balmain AW 2011.jpgUpdate: Olivier Rousteing has been confirmed as designer of Balmain's women's and men's ready-to-wear lines. "I plan to honor that confidence by ensuring that Pierre Balmain always remains one of the leading brands that others look to as a reference," Rousteing said of his appointment.

Earlier this month Christophe Decarnin was confirmed to have exited Balmain. Now thoughts are turning to who will replace the designer at the label. The latest name to be bandied about isn't Melanie Ward, but Olivier Rousteing, whom WWD reports is "in pole position" to assume the role of creative director.

The relatively unknown Rousteing was a key deputy of Decarnin's, and has worked at Balmain since 2009. Prior to that he was at Roberto Cavalli for six years. Now it appears the French fashion house could announce Rouseteing's appointment as early as next week.

"Sources describe Rousteing as a young and promising creative dynamo," reports WWD.

Decarnin was notably absent from Paris Fashion Week last month. It was eventually revealed that he was undergoing treatment for depression. Tensions between him and CEO, Alain Hivelin, then reached breaking point and after five years, the two parted ways.