PARIS, Jul 9, 2002 --- It's finally happened -- Oscar de la Renta is leaving Balmain.

After over a year of speculation on the length of his tenure, specifically prompted by his major back surgery last year, the American-based, Dominican designer will show his last collection for the Paris couture house today.

"He has had a ten-year contract with Balmain and tomorrow is his last collection. End of discussion," said a spokesperson.

The couturier joined the house in 1992. He was originally to have designed one more collection next January.

As for the continuation of the house's couture operations after de la Renta's departure: "Balmain will make an announcement in September."

Balmain has seen its fortunes turn around under the design direction of de la Renta.

What was once a sleepy and conservative Parisian house has become one of the haute couture world's biggest success stories.

De la Renta, as much a social butterfly as he is a talented designer, brought a high-octane list of clients with him to Paris, ready to lap up the offerings he designed specifically for them.

Balmain has in turn seen unprecedented growth in recent years, even in the face of hard economic conditions, and is reportedly one of the very few houses making money from its couture division today.

Unfortunately, elsewhere in the house the picture isn't quite so rosy.

The company, majority-owned by company president Alain Hivelin, has seen its ready-to-wear activities take a slide.

Struggling to establish a cohesive image for the house has proved more than difficult.

The most recent appointment has been Laurent Mercier who debuted for the house last March to mixed reviews.

In recent years Balmain has also seen former Chanel studio boss Gilles Dufour at the helm for three relatively successful seasons.

Whether or not Balmain could continue a couture collection without de la Renta's input remains to be seen.

Almost certainly it would lose the majority of clients who buy from the house because of their friend Oscar, not because of the luster attached to the Balmain name.