Marc Jacobs Leaving Louis Vuitton
French luxury company Louis Vuitton says Marc Jacobs is stepping down as creative director of its flagship brand.
Jacobs, 50, is one of the biggest names in the fashion industry. Under his 16-year tenure, Louis Vuitton became the most lucrative fashion house in the world, the Associated Press notes, taking the brand from a luggage house to a global fashion power. He is one of the most exciting and respected designers in the business.
Jacobs is exiting his job to focus on an IPO for the Marc Jacobs brand, which could come some time in the next three years. Speculation had been that Jacobs might go to Coach.
The designer was reportedly overheard saying that he was leaving the company while backstage at the Louis Vuitton spring 2014 show in Paris on Oct. 1st.
The show itself was said to be very somber and was referred to as a “funeral” by fashion and style director of W magazine, Edward Enniful.
Marc is said to be moving back to New York to focus on his Marc Jacobs and Marc by Marc Jacobs line.
All signs are reportedly pointing to Nicolas Ghesquière, formerly the Balenciaga designer. But just last week, Darren Spaziani was hired by the company. He is the accessories director at Proenza Schouler.
“Marc is absolutely significant to fashion,” Ken Downing, the fashion director of Neiman Marcus said. “But as we have seen at many other houses, designers have taken a hiatus or been replaced by other talents. It has been a Marc moment for many years here, but fashion is an industry of change. It is never the same day any day.”
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