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Wednesday October 2, 2013 MYT 7:00:00 PM
Wednesday October 2, 2013 MYT 7:06:33 PM
Designer Marc Jacobs, 50, has confirmed his departure from Louis Vuitton. He has been with the French fashion label since 1997.
The American designer will be focusing on expanding his own brand.
Louis Vuitton owner LVMH has confirmed the departure of American designer Marc Jacobs, who will be leaving the French fashion label to focus on his own brand.
LVMH chairman and CEO Bernard Arnault and Marc Jacobs have announced the designer’s departure from Louis Vuitton on the final morning of this season’s Paris Fashion Week.
Jacobs’ contract is set to run out in 2014, and the 50-year-old designer, who has been with the brand since 1997, will not be renewing it, according to a report published today by WWD .
Rumours have been swirling all week of a potential shake-up at Vuitton, but until today the designer’s departure had not been confirmed. It is thought that he will focus, along with business partner Robert Duffy, on an IPO for his own multi-million dollar Marc Jacobs brand, which should occur within the next three years.
Frenchman Nicolas Ghesquiere has been touted as the US designer’s replacement. The former Balenciaga creative director left that label after 15 years last November (later replaced by Alexander Wang), and is currently in a court battle regarding his departure. — AFP Relaxnews
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