US fashion designer Marc Jacobs is reportedly leaving French fashion house Louis Vuitton after 16 years in order to focus on his own label - Marc Jacobs.
It is speculated that Jacobs won't renew his 10-year contract with the fashion house because he wants to concentrate on expanding his own line of products, reports contactmusic.com.
It is believed that the move could result in French luxury goods group LVMH putting their majority stake in Marc Jacobs International up for grabs in an initial public offering (IPO).
Despite the profitable prospect of an IPO, a source told WWD magazine that Jacobs and his business partner Robert Duffy "are not yet on board".
Meanwhile, LVMH are reportedly in talks with former Balenciaga creative director Nicolas Ghesquiere to become a potential successor to the 50-year-old designer.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app