Fashion wunderkind Marc Jacobs is leaving Louis Vuitton after 16 years with the legendary fashion house.
Jacobs decided that it is time for him to focus exclusively on his namesake company and lines.
Noting that Marc Jacobs has grown from tiny endeavor worth $20 million into a billion-dollar property, Bernard Arnault – the chairman and CEO of LVMH Moët Hennessy Louis Vuitton, the parent company of both the Paris-based LV and the New York-based Marc Jacobs – said today that, “We left it to Marc and to [his business partner] Robert Duffy to decide when they wanted to concentrate on the brand.
“Now we have come to an agreement and the object is to assist them with an [IPO].”
Movin’ on up, huh, Marc!
Movin’ on up, huh, Marc!
Good for you.
A replacement is expected to be announced by month’s end, but former Baleciaga designer Nicholas Ghesquière already is rumored to be the LV heir apparent.
Photo: FashionGoneRogue.com.
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