After 16-years, iconic fashion designer Marc Jacob is leaving his creative director position at Louis Vuitton’s flagship brand to focus on an IPO for the Marc Jacobs brand.
According to WWD, “LVMH Moët Hennessy Louis Vuitton chairman and chief executive officer Bernard Arnault, together with Jacobs and his long-time business partner Robert Duffy, confirmed the developments to WWD following months of speculation. The applause that rang out this morning from the vast tent in the Cour Carrée of the Louvre signaled the end of Jacobs’ tenure as creative director for the storied French house and the official beginning of Jacobs’ IPO preparation. The offering should occur within the next three years. WWD first reported on June 10 LVMH’s interest in taking Marc Jacobs public.”
At the time of the press, Jacobs successor at Vuitton has not been named, nor has a decision has been made, however many people are speculating that Nicolas Ghesquière, formerly of Balenciaga will replace Jacob as the front-runner.
Jacob is one of the biggest names in the fashion world. He is also one of the most respected designers in the fashion business. The 50-year-old is known for the most exciting and extravagant shows in Paris.
Photos Credit: Dimitrios Kambouris | Getty Images
Follow me @donbleek88