Matthieu Blazy is the new creative director of Chanel, leaving his role at Bottega Veneta after three years. For many Gen Z and Millennials in fashion, the news comes after several months of waiting and speculating what the appointment would mean for the industry's future.

Women's Wear Daily reports that the legendary fashion house has appointed Matthieu Blazy, 40, for the role. Blazy previously served as Bottega Veneta ’s creative director for three years.

French fashion house Chanel selected former Bottega Veneta design chief Matthieu Blazy as its next creative director, the company said on Thursday, after months of fevered speculation about the industry's most coveted job.